Shamrock sells luxury magazine publisher for $250M
bizjournals.com
June 1, 2007
Shamrock Holdings is selling its controlling stake in luxury magazine publisher Modern Luxury Media to Clarity Partners for $250 million.
Modern Luxury is the largest publisher of city-regional magazines in the U.S., with titles including Front Desk, Angeleno, and Riviera. The magazines target "high net worth individuals."
Burbank-based Shamrock, the holding company run by Roy Disney and Stanley Gold, paid $50 million for the stake in 2004. Since that time, the company's advertising revenue has quadrupled to about $70 million.
Beverly Hills-based Clarity won an auction for the stake that had about 30 participants.
Modern Luxury is the largest publisher of city-regional magazines in the U.S., with titles including Front Desk, Angeleno, and Riviera. The magazines target "high net worth individuals."
Burbank-based Shamrock, the holding company run by Roy Disney and Stanley Gold, paid $50 million for the stake in 2004. Since that time, the company's advertising revenue has quadrupled to about $70 million.
Beverly Hills-based Clarity won an auction for the stake that had about 30 participants.