trending Market Intelligence /marketintelligence/en/news-insights/trending/tvCZoSFfl-lLx7Xtyh9W8g2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Time Inc. to sell This Old House Ventures

Blog

Charter, DIRECTV and Comcast rank as the top 'RSN-friendly' MVPDs

TMT News & Research: 2020 Recap

Quibi's $2 billion bet on mobile video fizzles out

Cable nets struggle with cash flow declines due to cord cutting, pandemic


Time Inc. to sell This Old House Ventures

Media and publishing executive Eric Thorkilsen and TZPGrowth Partners I LP, a New York-based private equity fund and part of the TZPGroup, struck a deal to acquire This Old House Ventures LLC and all of itsassociated media properties from Time Inc.

Financial terms of the deal were not disclosed.

As a fully integrated, multimedia business, This Old HouseVentures will manage all of its own core business functions, including originaltelevision production, digital content and operations, advertising sales,magazine editorial, brand licensing and marketing from its new headquarters inStamford, Conn., beginning summer 2016, the company said April 1.

Time Inc. will remain involved with the lifestyle brandthrough long-term service agreements with the new owners to provide back officeoperations, including magazine production, consumer subscription marketing, andfulfillment and distribution services. As part of the transition, This Old House magazine will now behelmed by Susan Wyland as an editor-in-chief. Scott Omelianuk, This Old House's editor, is leaving thebrand to pursue a new opportunity in the television space.

The new senior management team will also include CFO Joe Brady,Chief Revenue Officer Michael Burton, Chief Digital Officer Michael Gutkowski,and Chris Wolfe, as executive producer, ThisOld House and Ask This Old House and general manager, This Old HouseProductions.

Portico Capital Securities served as financial adviser tothe acquirers.