Investors to Expand Leading In-Flight Media Brand
Phoenix, AZ -- (PR Newswire) -- Spire Capital Partners, along with Greenspun Media Group and ZelnickMedia Corporation, today announced the acquisition of SkyMall, Inc. from parent company Gemstar-TV Guide International, Inc. Phoenix-based SkyMall publishes America's largest in-flight catalog, reaching 650 million air passengers annually on 14 U.S. airlines. SkyMall also manages a leading e-commerce site, skymall.com, and loyalty marketing programs serving frequent travelers.
"The company is strongly positioned and well managed. We look forward to working with SkyMall management, airlines, merchants and loyalty partners as well as with our colleagues at Greenspun Media Group and ZelnickMedia to build upon the foundation of this terrific brand and unparalleled in-flight distribution," said Richard Patterson, a Spire Capital Managing Partner.
"With our extensive print media holdings, as well as our tour and travel website, Vegas.com, we feel we can contribute many synergistic growth avenues to SkyMall and we look forward to working closely with Spire in broadening the long term prospects of the brand," according to Greenspun Media Group.
Christine Aguilera, President of SkyMall since October 2003, will continue in her current role, reporting to the Board. "The SkyMall management team is very excited to have the support of Spire Capital and Greenspun Media Group," said Christine Aguilera. "In combination with SkyMall's dedicated employees, Spire and Greenspun Media Group will help the company take advantage of our many growth opportunities."
"We are pleased to have worked closely on this acquisition with both Spire and Greenspun," said ZelnickMedia partner Scott Siegler. ZelnickMedia initiated the transaction.
Harris, N.A. was the lead arranger on the debt financing for the acquirers.
SkyMall, Inc. is a specialty publishing and marketing services firm headquartered in Phoenix, Arizona. SkyMall produces a quarterly in-flight publication, SkyMall, with an annual circulation of approximately 20 million copies distributed in airplane seat pockets. SkyMall is a multi-channel, direct marketer offering high-quality, innovative merchandise from top direct marketers and manufacturers through its SkyMall catalog and web site, skymall.com. The SkyMall catalog is seen by approximately 88% of all domestic air passengers reaching more than 650 million air travelers annually. SkyMall also offers turn-key merchandise and fulfillment solutions for loyalty marketing programs. http://www.skymall.com
About Spire Capital
Spire Capital Partners, L.P., established in April 2000, is currently investing a $260 million private equity fund focused exclusively on the media, communications and business services industries. Spire Capital's Principals have served as owners, managers, investors and advisors of companies in these industries for over 20 years. Spire Capital's diversified portfolio includes holdings in the radio, publishing, cable, Internet content and infrastructure, marketing, newspapers and information services sectors.
About Greenspun Media Group
Greenspun Media Group is a diversified media, Internet, and broadcasting group owned and controlled by The Greenspun Corporation and family located in Las Vegas, Nevada. The Greenspun Corporation also controls and operates other businesses in and around Las Vegas including real estate holdings in office, retail and gaming, and a real estate development company. http://www.vegas.com/about
ZelnickMedia is a partnership of experienced media executives that owns interests in and manages an array of media enterprises in recorded music, publishing, catalog and online retailing, market research, CD manufacturing, online games, and media-related software in the U.S., Europe and Asia. The company's holdings include interests in Time Life, Lillian Vernon, Columbia Music Entertainment (CME) of Japan, UGO, Arkadium, National Lampoon, Naylor Publications, and OTX, the online market research company.