I just got word that a Boston media company has acquired Foam Magazine from Airborne Media LLC.
Airborne Media Partner Ross Garrett answered some questions about the deal and what it means for Foam.
Who is the Boston media company?
The company that acquired Foam is Madavor Media. It is an independent, niche publisher who is actively growing their portfolio of titles at present. Their independence was important to us. They don’t have the trappings of a publicly traded company and the flexibility to make the right decisions.
Why did Foam sell?
Airborne made great strides in repositioning Foam and upgrading the product to better reflect the sophistication and flavor of the action sports landscape. At this point, what Foam needs to get to the next level are the fundamental publishing resources that a company like Madavor can provide which are not impossible but also not innate at Airborne – things like scale in manufacturing and distribution, subscription marketing resources and a national ad sales force. A sale to Madavor made a lot of sense as we contemplated what they brought to the table.
Will Foam continue as a print publication?
Absolutely. Madavor believes in print as a premium method to engage readers and match them with contextually appropriate advertisers. They have all intention of publishing the printed magazine.
What happens to the staff?
The staff is a big part of the value of Foam. They stay.
Will Foam keep an action sports focus?
Yes.
What was the acquisition price?
Unable to disclose.
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