F+W Sold

ABRY partners has signed a definitive agreement to purchase F&W Publications. Details of the deal were not announced. F&W owns Memory Makers magazine, CNA magazine, and Krause Publishing, as well as several other special interest magazines, books, book clubs, and conferences.

[F+W also currently distributes Angie Pedersen's Book of Me series of books.]

David Steward will be ceo. He is the former coo and president of publishing of Martha Stewart Omnimedia and most recently was ceo of International Masters Publishers, a direct marketing company. He has also served as president of TV Guide Magazine.

ABRY, founded in 1989, is based in Boston and is a private equity fund that invests exclusively in media and communications companies. Other companies in its portfolio include Commonwealth Business Media, Consolidated Theatres, Cygnus Business Media, Hispanic Yellow Pages Network, Muzak, Nexstar Broadcasting Group, Penton Media, and many others.

SOURCE: Craftrends News Digest