Dickey Publishing Closes On Purchase Of Modern Luxury Media
September 21, 2010 at 4:14 AM (PT)
DICKEY PUBLISHING has closed on the purchase of city magazine publisher MODERN LUXURY MEDIA. CUMULUS MEDIA will manage the properties for DICKEY PUBLISHING, which also publishes JEZEBEL MAGAZINE, TUXEDO ROAD magazine, and ATLANTA SPORTS AND FITNESS MAGAZINE; MODERN LUXURY publishes 26 titles, including upscale-targeted lifestyle magazines including ANGELENO and HOUSTON, as well as bridal magazines.
CUMULUS Chairman & CEO LEW DICKEY said, "This transaction represents an exciting new chapter for the great brands in the MODERN LUXURY portfolio. It infuses the requisite capital to sustain and move this company forward. We will be bringing the significant resources and talent from CUMULUS MEDIA to help grow the MODERN LUXURY brand into the world's premier luxury marketing vehicle."
MODERN LUXURY Pres. MICHAEL DICKEY added, "We look forward to working closely with the dedicated and talented team at MODERN LUXURY to build on the success this great company has achieved in its first decade. We share MODERN LUXURY's commitment to producing best-in-class publications and to working closely with our valued clients to maximize their return on investment and brand activation."