|
Zing Queen
StuckOnPeas
PeaNut 28673 - 1/30/2002
Posts: 2047 Layouts: 170
Loc: right here, right now
 |  Posted: 6/14/2006 10:00:41 AM
Via Craftrends News Update e-newsletter:
"On June 9, 2006, PRIMEDIA entered into an agreement to sell substantially all of the assets of its Crafts Group to Enthusiast Media LLC, an entity controlled by affiliates of Sandler Capital Management, in an all-cash transaction valued at $132 million, subject to audit adjustments. This divestiture is subject to customary regulatory approvals and is expected to be completed in the third quarter of 2006."
More later when it's officially posted....
|
|
|
Kathy Montgomery
Addicted to the Exclamation Point!
PeaNut 42004 - 7/5/2002
Posts: 10209 Layouts: 280
Loc: N.CA
 |  Posted: 6/14/2006 10:03:42 AM
Please don't let this affect publications and subscriptions...I still have a year to go on all my Primedia subs... 
THANKS for the update, V!!! |
|
|
AprilA
StuckOnPeas
PeaNut 92351 - 6/24/2003
Posts: 2237 Layouts: 165
 | Posted: 6/14/2006 10:06:10 AM
Um...I don't think that if you pay $132M for something that you would let it die!! LOL! I think we're all OK!  |
I Blog!
Creative Editor
Digital Scrapbooking magazine
CKMedia
Before and after cleft lip repair surgery 11-06
| |
|
|
luv2scrapcindy
StuckOnPeas
PeaNut 59468 - 12/27/2002
Posts: 2938 Layouts: 135
Loc: Somewhere teaching a SB class!!!
| Posted: 6/14/2006 10:06:30 AM
Wowzers! |
|
|
AprilA
StuckOnPeas
PeaNut 92351 - 6/24/2003
Posts: 2237 Layouts: 165
| |
Zing Queen
StuckOnPeas
PeaNut 28673 - 1/30/2002
Posts: 2047 Layouts: 170
Loc: right here, right now
| Posted: 6/14/2006 10:44:26 AM
PRIMEDIA Enthusiast Media is the name of the group of special interest titles and assets Primedia manages. Compare this to Apprise Enthusiast Media (an example of a group specializing in "ethusiast" titles) and contrast it to "news" media.
I'm guessing that Sandler Capital Management is creating an LLC to hold the assets, which happen to be enthusiast titles, and they are calling it Enthusiast Media. |
|
|
squillen
The Scrappuh Bakuh
PeaNut 133550 - 2/27/2004
Posts: 32740 Layouts: 321
Loc: Hudson Valley, NY
 | Posted: 6/14/2006 11:22:54 AM
Wow. There are a lot of shifts lately affecting the scrapbook world.  |
|
|
JBeans
AncestralPea
PeaNut 200953 - 4/16/2005
Posts: 4083 Layouts: 157
Loc: On my comfy chair... | Posted: 6/14/2006 11:52:21 AM
If Enthusiast is some subsidiary or holding corp. related to Primemedia, I am assuming that although they call it a cash transaction, it really is a paper shift? If that is the case, I would say for all us scrapppers its business as usual... |
|
|
stace3
nothing to see here
PeaNut 60064 - 1/1/2003
Posts: 8564 Layouts: 71
Loc: Ontario
| Posted: 6/14/2006 12:18:41 PM
Looking at Apprise Enthusiast Media's website, it appears this company was founded in 2004 by a former Primedia exec. |
|
|
Ali Edwards
mama2simon
PeaNut 56084 - 11/17/2002
Posts: 8339 Layouts: 216
Loc: Oregon
| Posted: 6/14/2006 12:22:35 PM
It is all good . |
Ali
blog : http://www.aliedwards.typepad.com
twitter : http://twitter.com/aliedwards
Shutterfly Scrapbooking Advisory Team Member | |
|
|
DizzyIzzy
PeaWee
PeaNut 264815 - 6/12/2006
Posts: 4 Layouts: 0
 | Posted: 6/14/2006 12:22:45 PM
People are 'googling' the name ( Enthusiast Media LLC) and coming up with a different company ( Apprise Enthusiast Media) than the one (Enthusiast Media LLC) that bought the magazine group owned by Primedia, which Primedia always referred to as their Enthusiast Group. It is not Apprise Enthusiast Media that bought the group of magazines.
There maybe some internal changes, but the magazines will still be published.
http://www.craftrends.com/news.cfm | |
|
Marie_C
My other title was so much cooler
PeaNut 100197 - 8/6/2003
Posts: 16423 Layouts: 798
Loc: North Carolina
| Posted: 6/14/2006 12:35:55 PM
good to know |
| www.phrecklesphotography.com | |
|
|
ScrapNancy
Busy Blogger
PeaNut 92101 - 6/22/2003
Posts: 22185 Layouts: 135
Loc: Northeast Florida
| Posted: 6/14/2006 12:42:33 PM
The story is now up on Inside Scrapbooking (including the full Craftrends press release) and will be updated as new information becomes available. |
|
|
JBeans
AncestralPea
PeaNut 200953 - 4/16/2005
Posts: 4083 Layouts: 157
Loc: On my comfy chair... | Posted: 6/14/2006 1:52:11 PM
It is all good .
I figured. |
|
|
Zing Queen
StuckOnPeas
PeaNut 28673 - 1/30/2002
Posts: 2047 Layouts: 170
Loc: right here, right now
| Posted: 6/14/2006 1:55:16 PM
My guess was right:
"The company will operate as a stand-alone LLC under the temporary name of Enthusiast Media. A new name and logo will be introduced following completion of the sale."
OK, here's the fun part!
Let's get creative and suggest possible names and design potential logos!
I'll go first...
The boring and predictable: Sandler Enthusiast Group
The So-so: Craft Heaven Publications
The product-centric: Obsession Possession Group
Me bad.
|
|
|
chinadollmom
StuckOnPeas
PeaNut 86946 - 5/19/2003
Posts: 2279 Layouts: 103
| Posted: 6/14/2006 2:35:47 PM
So is this really more of a spin-off than an acquisition? (Per this article: Primedia May Split Enthusiast Media )
If you go to the Sandler Captial Management site, they're a fund management company, with only 36 employees. Is that how spin-offs are typically done? |
|
|
ScrapNancy
Busy Blogger
PeaNut 92101 - 6/22/2003
Posts: 22185 Layouts: 135
Loc: Northeast Florida
| Posted: 6/14/2006 3:06:38 PM
Sandler is a capital investment group, not just a fund manager. This is a purchase.
There is more info in my blog entry...
Primedia Pubs Find Lifeboat |
|
|
AprilA
StuckOnPeas
PeaNut 92351 - 6/24/2003
Posts: 2237 Layouts: 165
| Posted: 6/14/2006 3:45:31 PM
I had a phone meeting about something else a little while ago with a 'big dude' from Primedia (craft mag division) and I mentioned the sale and he says 'its all good' too. LOL!
And they are definitely looking to the future...which means there IS a future! |
I Blog!
Creative Editor
Digital Scrapbooking magazine
CKMedia
Before and after cleft lip repair surgery 11-06
| |
|
|
