Gold Coast, Boca Life, Jupiter, Stuart and Florida Home and Garden join the Michigan-based distributer’s consistently extending list of local magazines.
Palm Beach Media Group, an auxiliary of provincial mag distributer Hour Media Group, has procured Ft. Lauderdale-based Gulfstream Media gathering and its arrangement of nearby lavish way of life titles, the organization declared.
Remembered for the arrangement are Gold Coast, Boca Life, The Palm Beacher, Jupiter, Stuart and Florida Home and Garden magazines. They’ll join a Palm Beach Media portfolio that incorporates Palm Beach Illustrated, Naples Illustrated and Florida Design, which the organization obtained in July. Terms of the exchange were not uncovered.
In an announcement, Hour Media CEO John Balardo called the magazines “an ideal complement to our current roster of lifestyle and custom publications for the Florida market and our broader national footprint.”
“We see great synergies in this transaction,” They told Folio: in an email. “We already have a significant presence in the Florida market and in particular Southeast Florida. We publish more magazines in Florida than any other publisher.”
Because of the obtaining, The Palm Beacher will be converged into Palm Beach Illustrated, and a few positions will be wiped out, Balardo said.
“We are retaining most of the employees, however, there was some duplication in a couple of sales and production positions,” Balardo told Folio:.
Headquartered in Troy, Mich., where its foundation Hour Detroit has been distributing since 1996, Hour Media says it currently distributes in excess of 150 magazines all out, including custom productions, with more than 350 staff members in 13 workplaces around the nation.
The organization has extended essentially since 2017, when it obtained Palm Beach Media Group as well as Atlanta, Cincinnati, Orange Coast, and Los Angeles magazines from Emmis Communications for $6.5 million, and afterward Pasadena magazine in a different exchange. A year ago, it purchased Gemini Publications, distributer of Grand Rapids magazine and Grand Rapids Business Journal.
Balardo included that the organization is presently assessing “a half-dozen other acquisition opportunities at varying stages.”
“We are definitely looking to expand via acquisition and organically in 2020,” they said.
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