10/04/2004 - CurtCo Publishing Acquires Assets of Gulfshore Media Inc.

Southwest Florida-Based Group of Upscale Regional Titles Is Latest Addition to CurtCo’s Expanding Family of Publications Targeted to Ultra-Affluent Readers

MALIBU, CA (October 4, 2004) – CurtCo Publishing, parent of Robb Report, ShowBoats International and Worth magazines and a family of titles exclusively targeted to the world’s most affluent readers, in conjunction with financial sponsors Weston Presidio and TD Capital Communications Partners, today announced the acquisition of the assets of Sarasota-based Gulfshore Media, publisher of Gulfshore Life and Sarasota magazines, as well as a number of other regional magazines geared to upscale readers in top Florida markets.

For over 25 years, Gulfshore Media has been recognized as the leading publisher of regional consumer and business magazines in Southwest Florida, which includes the ultra-affluent communities of Sarasota, Naples, Marco Island, Boca Grande, Bonita Springs, and Sanibel and Captiva islands. Gulfshore Life (founded in 1974) and Sarasota (founded in 1978) have been recognized as authorities in Southwest Florida on topics such as affluent lifestyle, art, real estate, politics, and fashion.

Gulfshore Media also offers regional financial information through Gulfshore Business and Sarasota-Manatee Business magazines. In addition, the company publishes four glossy magazines targeted to the burgeoning Florida real estate and relocation market: Gulfshore Homebuyer and Sarasota-Manatee Homebuyer in Southwest Florida, Orlando Homebuyer in Central Florida and Jacksonville Homebuyer in Northeast Florida.

“The acquisition of the Gulfshore and Sarasota family of publications, with their exclusive readership and leadership in the nation’s two most affluent demographic regions—Naples and Sarasota—is yet another step in our corporate strategy to deliver exceptional, targeted content to the ultra-affluent reader as well as offer our luxury partners and advertisers, new and powerful methods of communicating with their target markets,” explained CurtCo Media Chief Executive Officer William J. Curtis.

“We intend to continue to extend our reach into affluent regional markets, in addition to vertical industries throughout the international luxury community,” Mr. Curtis further stated. “This acquisition marks a significant step in realizing this objective.”

Gulfshore Media Chairman and Founder Dan Denton and President and Group Publisher Jimmy Dean, with their staff of more than 60 employees, will join CurtCo Media and continue in their present positions. “We are honored to welcome Dan, Jimmy and their dedicated associates to the CurtCo team,” said Mr. Curtis. “For 25 years, they have served these extremely influential communities well, and now, with their knowledge, expertise and market leadership position, together with CurtCo they will accelerate their growth strategy and build upon their successes.

“We offer our advertisers a powerful, yet flexible series of vehicles, all focused on a single demographic,” Mr. Curtis explained. “However, CurtCo delivers marketers access to that remarkably affluent demographic through a wide variety of avenues that each focus on different passions and concerns near and dear to our unique readers. Now, in addition to the national footprint of the Robb Report series of publications, we add new ‘points of targeted contact’ on an affluent community-by-community basis.”

Mr. Denton said that he and his management team were swayed by the fact that CurtCo and Gulfshore Media shared similar business philosophies.

“Because of our strong position in Florida's most desirable markets, we have been approached by numerous companies over the past several years regarding a possible sale,” Mr. Denton noted. “But in CurtCo, we found a partner who truly understands that ongoing excellence is required to attract and retain the most discerning readers and advertisers.”

“We are thrilled to be joining the ranks of one of America's premier
publishing houses and are brimming with excitement about the future for
the company,” added Mr. Dean. “The combined CurtCo Publishing and Gulfshore Media teams will bring an entirely new brand of communication excitement to the table for our readers and advertisers alike.”

Plans call for the newly acquired titles to continue to operate from their existing headquarters in Sarasota and Naples as well as satellite offices in Jacksonville and Orlando.

The transaction marks the latest move in CurtCo’s ongoing objective of acquiring and developing vertical titles within the luxury lifestyle categories, a goal that began with CurtCo’s acquisition of Robb Report in 2001. This acquisition is the latest chapter in the expansion of the Robb Report franchise that includes the acquisitions of ShowBoats International and Worth magazines, as well as the development of The Robb Report Collection and the launches of Robb Report Vacation Homes, Robb Report MotorCycling, Robb Report Luxury Home, Robb Report Home Entertainment, and CurtCo’s Digital TV.

CurtCo Publishing
CurtCo Publishing is operated by CurtCo Media Labs, which for two decades has operated more than 45 launched or acquired vertical magazines. Today, CurtCo serves the ultra luxury markets with a powerful network of leading lifestyle publications. These include the world’s most acclaimed journal of connoisseurship, Robb Report, as well as Worth, ShowBoats International, The Robb Report Collection, Robb Report Home Entertainment, Robb Report MotorCycling, Robb Report Luxury Home, Robb Report Vacation Home and CurtCo’s Digital TV. For more information on CurtCo Media Labs, go to www.curtco.com.

Weston Presidio
Weston Presidio, founded in 1991, is a private equity firm with over $2.3 billion under management. With offices in San Francisco, Boston and Menlo Park, Weston Presidio has worked side by side with world-class management teams throughout North America and Europe. Weston Presidio has a multi-industry investment strategy that has allowed the firm to partner with over 200 portfolio companies in a variety of industries including consumer products and retail, media, manufacturing and industrial, service, and technology. For more information on Weston Presidio go to www.westonpresidio.com.

TD Capital Communications Partners
TD Capital Communications Partners is an investment group of TD Capital. Established more than 35 years ago, TD Capital is the private equity arm of TD Bank Financial Group. For more information on TD Capital and its investment groups, go to www.tdcapital.com

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Jeff Perlman
Brandware Public Relations
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