No doubt about it. Times are tight in the media market. The Herald's for sale, the Sun-Sentinel is bankrupt, and the SunPost is nearly cooked.
Now comes news that 944 has purchased Six Degrees, one of our favorite spunky little club entertainment mags, which just recently gave up the ghost. This is a medium-size biz, with branches in places like Atlanta and Vegas, but we find it a tad encouraging that someone is BUYing in this market.
Of course, if you read the press release after the jump, you'll quickly learn that we are talking cheap, cheap, cheap -- user-generated content and college students -- but still, it shows the kinda change that will help media to morph in the new recession/Internet world.
944 Media Acquires Six Degrees Magazine
FOR IMMEDIATE RELEASE
PRESS CONTACT: Carly Harrill, 944 Magazine
619-817-5066/[email protected]
944 Media Acquires Six Degrees Magazine
944 Media Completes Acquisition of Regional Publication Dedicated to Fashion and Entertainment
LOS ANGELES (March 5, 2009) - 944 Media, LLC ("944 Media") (http://www.944.com/) has announced the acquisition of assets of Six Degrees magazine and its Web site portal (www.sixdegreesmag.com).
The monthly fashion and entertainment publication will join 944 Media's
existing portfolio of seven lifestyle publications in the nation's
leading entertainment hubs.
"The addition of Six Degrees
to our portfolio makes 944 Media the largest regional lifestyle media
group in the country based on circulation and frequency," said CEO and
Founder of 944 Media, Marc Lotenberg. "The expansion shows our
dedication to remain true to our early roots and focus on the power of
youth marketing."
With the acquisition of Six Degrees
magazine, 944 Media will circulate more than 330,000 audited magazines
per month for an annual national distribution of 4 million copies. At a
7.2 pass-along rate, the media portfolio will reach a readership of 29
million per year.
Currently operating in the Atlanta, Detroit, Miami and Las Vegas markets, Six Degrees
magazine is a pocket-sized publication that focuses on topics defined
around culture, style and city living. With a circulation strategy
similar to that of 944 magazine, Six Degrees
is distributed complimentary at more than 2,400 unique locations, with
a total circulation of 90,000 copies per month. The communications
company targets a male and female-based audience between the ages of 21 and 32 with a media portfolio that encompasses a magazine, Web site, viral marketing and special events arms.
As part of the transition, Six Degrees will
appeal more to young influencers with an emphasis on user-generated
content and grassroots marketing. In an effort to expand the job market
and remain true to its startup approach, 944 Media will strive to
provide additional employment opportunities at Six Degrees for new college graduates, interns and aspiring journalists and photographers.
April 30, 2009, will mark the debut issue of Six Degrees magazine under
the 944 Media umbrella. The publication will continue to operate in its
current markets, with plans to expand into two of 944's existing
markets in 2009, and three markets in 2010.
"Both 944 and Six Degrees
are powerful brands in the cities in which they publish, and both
utilize a multimedia platform to market a progressive magazine and
forward-thinking Web site, while executing exciting signature events,"
said President of Six Degrees
Michael George. "The alliance is a win-win, and the synergies between
the two brands could be endless in connecting with a vast growing
demographic of consumers."
The Six Degrees staff will merge into the 944
offices in both the Miami and Las Vegas markets, while the Atlanta and
Detroit editions will continue to operate with the current staff.
High-resolution
cover artwork and interviews are available upon request. Please contact
944 Media Director of PR, Carly Harrill, at 619-817-5066 or [email protected] for more information.
About 944 Media
Driven
by an arsenal of city-specific lifestyle publications in the country's
largest entertainment hubs, 944 Media has created a unique lifestyle
portfolio specializing in print and online content, special events and
a custom publishing division. Founded in 2001, 944
is setting the pace for a new generation of innovative media trends,
projecting a standard of living for the accomplished, upwardly mobile
tastemaker through an all-inclusive resource. The
conglomerate capitalizes on a hyper-local publishing model that
balances regional and national content, while an immediate print
turnaround allows each issue to hit the streets within 24 hours of
close. The digital platform, 944.com, has extended the reach of the
publication with daily content attracting more than 2.5 million unique
viewers per month. Through an innovative supply chain distribution
platform, 944 Media circulates more than 4 million copies per year,
with more than 6,400 strategic distribution locations and placement in
25,000 luxury hotel rooms nationwide. In 2008, 944 Media CEO and
Founder Marc Lotenberg was named one of "America's Coolest Young
Entrepreneurs: 30 Under 30" by Inc. magazine for innovative business and entrepreneurial practices. www.944.com
About Six Degrees Magazine
Embracing a hip, youthful appeal, Six Degrees
magazine caters to an audience on the vanguard of the next generation's
progressive trends with a pocket-size lifestyle publication,
cutting-edge Web site and signature special events. Founded upon the
"Six Degrees of Separation" theory, Six Degrees
focuses on a city's culture and style, as well as the connection of its
individuals through common interests and acquaintances. Guided by a
monthly readership of 600,000-plus in the Miami, Las Vegas, Detroit and
Atlanta regions, Six Degrees
magazine is distributed complimentary across more than 2,400
distribution locations. As a multi-platform communications agency, Six Degrees drives the consumer experience with other promotional components including viral marketing and signature special events. www.sixdegreesmag.com
