NEW YORK--(BUSINESS WIRE)--New York City-based PWxyz, LLC announced today that it has acquired Publishers Weekly, publishersweekly.com and Publishers Weekly Show Daily from Reed Business Information-US (www.reedbusiness.com/us).
The new company will retain all of Publishers Weekly editorial, art and advertising employees and will maintain its headquarters in New York City’s publishing hub. Cevin Bryerman as publisher, and Jim Milliot and Michael Coffey as co-editors, will continue to lead the publication’s management team. According to Slowik, PWxyz will leverage Publishers Weekly brand equity and talent pool to extend the franchise to a wider electronic and international footprint.
“I am very excited to be back at Publishers Weekly as e-books hit their tipping point, workable translations become automated and as the Google book settlement is completed,” said Slowik. He added, “Publishers Weekly will benefit from a lithe operation that can properly report on and interpret the implications of this incredible evolution of the book business.”
PWxyz has partnered with Mediapolis, a New York City-based web-engineering firm that will quickly migrate the PW site to its more robust platform. The company has also formed a partnership with Publishing Experts, a production consultancy that will streamline workflow. They will invert the process by creating all content electronically and then have the print product/s and all electronic products, including syndication feeds and daily, weekly and monthly newsletters flow from it in multi-lingual iterations. The upended production process will allow for optimal efficiency, speed-to-market and a better subscriber experience.
Slowik previously ran Publishers Weekly in the late eighties and early nineties, and despite an economic collapse led the title to record profits. Coincidentally the areas that led to its success — international, electronic rights (CD-ROM at the time) and enhanced attention to reviews — are all in play again.
John Poulin, CEO of Reed Business Information-US said, “Given George’s history with Publishers Weekly, we believe this will be a great match.”
The Jordan, Edmiston Group, Inc. (JEGI) (www.jegi.com), the leading independent investment bank for media, information, marketing services and related technologies, represented Reed Business Information-US in this transaction and acted as its exclusive financial advisor.
Hayfield Capital, LLC, advised Slowik and PWxyz on the transaction.
About PWxyz, LLC
PWxyz, LLC is a newly organized company led by President George W. Slowik, Jr. and created to acquire Publishers Weekly magazine, Publishers Weekly Show Daily, www.publishersweekly.com and all related assets.
Mediapolis www.mediapolis.com creates technology that simplifies the production of high profile, high performance Web sites. Since 1994, Mediapolis has built more than 275 sites for clients like The New York Times, Johnson & Johnson, Volvo Cars, and Sony Music.
About Publishing Experts, Inc.
Publishing Experts, Inc. www.publishingexperts.com is the leading production, manufacturing and workflow consultancy working with publishers. Founded in 1991 by President, Janet Mannheimer, PEI works with a broad array of magazine and book publishers to establish best practice production practices at optimal economics. PEI provides services from turnkey production to project rfp’s and has been involved in more than 20 start-ups.
About Hayfield Capital, LLC
Hayfield Capital LLC (www.hayfieldcapital.com) is a boutique investment advisory firm specializing in representation of small-cap, mid-cap, and early stage public and private companies, and funds. Hayfield’s Media & Entertainment practice is headed by Jacob Hill
About The Jordan, Edmiston Group, Inc.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY www.jegi.com is the leading provider of independent investment banking services for media, information, marketing services and related technologies. Since 1987, JEGI has completed nearly 500 high-profile M&A transactions for global and emerging companies; entrepreneurial owners; and private equity and venture capital funds.
About Reed Business Information-US
Reed Business Information-US www.reedbusiness.com/us is a leading business-to-business information provider of publications and web sites, as well as custom publishing, directories and research. Reed Business Information-US is part of Reed Elsevier (NYSE: RUK and ENL), a world leading provider of professional information and workflow solutions in the Science, Medical, Legal, Risk Management and Business sectors.