Philadelphia Style sold
Philadelphia Style magazine has been sold to a New York media company.
Niche Media, which publishes high-end magazines in luxury markets like the Hamptons and Aspen, is the buyer.
The purchase price was not disclosed.
Philadelphia Style was owned by Dana Spain-Smith, trading under the name DLG Media Holdings, which is based in the Queen Village section of Philadelphia. Spain-Smith reportedly told employees she planned to devote more time to the Philadelphia Animal Welfare Society.
Philadelphia Style was launched in 1997 and today distributes 70,000 copies per issue.
Under Niche Media ownership, it will undergo a makeover with the May issue, appearing in the oversize glossy format used by other publications in the family.
Niche Media, which was founded in 1992 by Jason Binn, owns Aspen Peak, Boston Common, Capitol File, Gotham, Hamptons and Los Angeles Confidential. Owned by Greenspun Media Group, the magazine chain is aimed at readers with household incomes of at least $250,000 and have liquid assets in excess of $1 million.
Binn cited Philadelphia's ranking as the No. 5 most affluent market, according to the U.S. Bureau of Economic Analysis.
"Our advertisers and readers will now have unprecedented access to yet another of the country's great wealth markets," said Binn, who is CEO of Niche Media.
Philadelphia Style founder and Publisher John Colabelli and Editor Sarah Schaffer and their respective staffs will be retained, Niche Media said.
No comments:
Post a Comment