B$Z: Grindmedia, A Division of Source Interlink Media, Acquires Transworld
May 20, 2013
Grindmedia Adds TransWorld Motocross, TransWorld Ride BMX, TransWorld SURF, TransWorld SNOWboarding, TransWorld SKATEboarding, TransWorld Business, TransWorld.tv to Action/Adventure Sports Media Properties
Press Release from Grindmedia
SAN CLEMENTE, CA (May 20, 2013) ¨C GrindMedia, the leading action/ adventure sports media company, is excited to announce the acquisition of TransWorld's action sports brands from Bonnier Corporation. Acquired brands include TransWorld SURF, TransWorld SNOWboarding, TransWorld SKATEboarding, TransWorld Ride BMX, TransWorld Motocross and TransWorld Business. This strategic acquisition positions GrindMedia as the clear leader in these enthusiast verticals connecting advertisers and consumers who share the passion and excitement for their sport. The combined business reaches an average monthly audience of more than 30 million outdoor enthusiasts.
"The addition of these fantastic brands to the GrindMedia portfolio further underscores our commitment to the belief that unique, quality content is the foundation of today's dynamic enthusiast media company," said Norb Garrett, Senior Vice President and Group Publisher of GrindMedia. "Like our readers and our advertisers, we are passionate about these sports and we look forward to the TransWorld family joining ours at GrindMedia."
In making this announcement, Chris Argentieri, President of Source Interlink Media ("SIM") noted, "The TransWorld acquisition is the latest in a series of significant acquisitions SIM has made in the action sports space. As a result, along with continued organic growth, GrindMedia has emerged as the clear leader serving this highly engaged and sought after audience. We are looking forward to developing our audience further, while leveraging Grind's expanded reach to help our marketing partners deliver their brand's message, in innovative and meaningful ways."
The TransWorld brand was established in the early 80¡äs and, through the years, has remained a trusted voice for the close knit communities it serves. The individual titles bring a long, rich history of strong voices that are committed to their respective sport. TransWorld's talented team of dynamic and creative media professionals will remain located in Carlsbad, California. Financial terms of the transaction are not being disclosed.
"The TransWorld brands demonstrated vision in how their audiences were changing the way they consumed content, and their efforts to adapt to these changes have provided valuable lessons for elsewhere within Bonnier," said Dave Freygang, CEO of Bonnier Corporation. :We wish them all well with GrindMedia."
Source Interlink Media's GrindMedia is home to renowned action and adventure sports magazine brands Surfer, Surfing, Snowboarder, Skateboarder, Powder, Bike, Canoe & Kayak, SUP-Standup Paddler and Paved. Along with our standalone websites, including GrindTV.com, Newschoolers and Motocross.com, GrindMedia is the leading provider of print and online action sports and entertainment content in the United States. Delivering significant reach across both action sports enthusiast and various in-market consumer audiences, GrindMedia produces more than 20 leading events and webcasts such as Surfer Poll Awards, Powder Video Awards, Lowers Pro and EnduroCross. GrindMedia is also the exclusive action and adventure sports content provider for Yahoo! Sports. To learn more, visit grindmedia.com.
About Source Interlink Media:
Source Interlink Media, LLC is the premier source of special interest media in the United States. With more than 75 publications, 100 Web sites, 800 branded products, 50+ events, and TV and radio programs, SIM is the largest provider of content to enthusiast communities interested in automotive, action sports, home theater and other niche activities. The division's strategy is to wholly focus on targeted audiences by leveraging and expanding upon its core market-leading brands through a multiplatform media approach.
About Bonnier Corporation:
Bonnier Corp. (www.bonniercorp.com) is one of the largest consumer-publishing groups in the U.S. and is the leading media company serving passionate, highly engaged audiences, through magazines, events, digital media and leading-edge products. Bonnier Corp. is the U.S. division of the Bonnier Group (www.bonnier.com), an international media group active in television, newspapers, magazines, movies, books and digital media.