I just saw on Twitter news first reported by Publishers Weekly and confirmed via a press release from F+W Media that the company, which publishes craft titles under imprints such as North Light Books, Krause Books and Memory Makers Books, has acquired craft publisher Interweave Press’ parent company, Aspire Media LLC.
Terms of the deal were not disclosed, though F+W CEO Daivd Nussbaum said the deal will add 30 percent to the company’s revenue.
Interweave was founded in 1975 in Loveland, Colo., and was acquired by Aspire Media in 2005. That company is backed by private equity firms Frontenac Company and Catalyst Investors. Clay Hall has served as CEO since that time, and he and CFO Troy Wells will leave the company after the sale.
Interweave owns and operates 15 consumer art and craft magazines and has more than 30 special newsstand publications, has published 350 craft books, hosts 33 websites and 10 online communities, has 10 e-commerce stores, puts on 11 consumer events and also produces video workshops and three craft television programs that air on public television, according to the press release.
F+W Media itself has 20 ecommerce sites geared to different craft genres, and says its customer database will become the biggest in the industry with the acquisition. In addition to craft titles the company publishes a wide array of do-it-yourself titles, including imprints such as Adams Media and Writers’ Digest Books.
No one knows yet what this will mean for Interweave, any of the staff other than those at the top, or the publications or events put on by the company. The press release does indicate increased production of digital products in the near future: “Immediate plans for the Company include: an increased number of digital magazine/content launches through the popular Interweave digital newsstand; an expansion of the e-commerce, ebook, and digital pattern business; and an expansion of the live and online education and event business.”
Interesting article, thanks for the update!