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F+W

(Redirected fromF+W Media)

F+W (formerlyF+W Publications andF+W Media) was a media and e-commerce company headquartered inNew York City.Founded in 1913 in Cincinnati, F+W publishedmagazines,books, digital products (including e-books and e-magazines), produced online video, offered online education, and owned and operated e-stores, as well as consumer and trade shows.[1][failed verification]

F+W
StatusDefunct (2019)
Founded1913 (1913)
FounderEdward Rosenthal
Defunct2019 Edit this on Wikidata
Country of originUnited States
Headquarters locationNew York City,New York
Publication typesMagazines,books
No. of employees700
Official websitewww.fwmedia.comEdit this at Wikidata

History

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F+W was named after two of its early publications:Farm Quarterly andWriter's Digest.[2] The company grew though a series of acquisitions, including book publisherDavid & Charles,Krause Publications in 2002,[3]Horticulture magazine, and Adams Media in 2003. The private equity firm ABRY Partners purchased F+W in 2005.[4] In August 2012 F+W Media acquired Interweave, an arts and crafts media company based in Loveland, Colorado.[5] In 2014, F+W Media acquired New Track Media,[6] renamed itself F+W,[7] and was acquired by the private equity company Tinicum.[8]

In 2008, the company began to focus more one-commerce activities and offering products and services related to the content of its magazines.[9] The e-commerce business grew from one store with $6 million in revenue in 2008 to 31 e-commerce stores with more than $65 million for 2015.[9] In May 2017, some creditors received a 97% stake in the company in exchange for debt relief and a new line of credit.[10][11]

Demise

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In January 2018, with the CEO and two othertop executives leaving the company,[12] F+W slashed its workforce by 40%.[11]

F+W filed forChapter 11 bankruptcy protection on March 10, 2019.[13] The book publishing assets of the company were won byPenguin Random House at a bankruptcy auction in June 2019.[14] The grouping of the assets drew criticism.[15] Several properties includingSky & Telescope were sold individually.[16]

Overview

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F+W Media was a special interest content provider and marketer of enthusiast magazines, books, conferences, trade shows, and interactive media properties.

F+W's special-interest categories includedart,crafts,mixed media,writing,genealogy,antiques andcollectibles,graphic design,hunting.[1][failed verification] In 2011 the Company entered the fiction market with the acquisition of Tyrus Books.[17] In 2012, the company launched imprints in romance (Crimson Romance)[18] and young adult fiction (Merit Press).[19]

Publications were organized around some 20 community-based units, each of which focuses on a particular special interest category. The company also published about 600 new book titles annually, and had a library of some 4000 titles.

Its brands wereDavid & Charles,Impact Books,Krause Publications, North Light Books,Writer's Digest andInterweave Press.[20]

Situation after dissolution

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In June 2019, the assets of F+W were sold at bankruptcy auctions.[16]

Ownership structure after dissolution of F+W[21]
AssetsNew owner
F+W BooksBecame animprint ofPenguin Random House'sPenguin Publishing Group division[14][22]
F&W Media InternationalBecameDavid & Charles again in amanagement buyout[23]
Crafts segment including the magazines:Peak Media Properties[24][25]
Long Thread Media[26]
Fine Arts segment including the magazines:Peak Media Properties[24][27]
Construction Trade segment including the magazines:Shield Wall Media[28]
Family TreeYankee Publishing[29]
Active Interest Media[29]
Collectibles segment consisting of the magazines:Active Interest Media[21]
Sky & TelescopeAmerican Astronomical Society[21]
Outdoors segment including the magazines:Media 360[30][31]
PrintPrint Holdings LLC

Various assets of F+W were sold prior to the bankruptcy filing.[32]

Magazines sold prior to bankruptcy filing
DateMagazineNew owner
Oct 2015World Tea NewsPenton[33]
Oct 2016[34]Gun DigestCaribou Media Group[35]
Jun 2018BladeCaribou Media Group[35]

References

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  1. ^ab"F&W Publications Retains Veronis, Suhler & Associates to Explore Strategic Options".The Write News. May 3, 1999. Retrieved2019-09-12.
  2. ^F&W Publications, Inc.
  3. ^Baker, Don (July 2, 2002)."F&W Inc. to Acquire Publisher Krause".The Cincinnati Post. Archived from the original on 2012-11-05. Retrieved2011-04-05.
  4. ^Newberry, Jon (August 9, 2005)."F&W Publications Now Owned by Media Group".The Cincinnati Post. Archived from the original on 2012-11-05. Retrieved2011-04-05.
  5. ^"F+W Media Announces Acquisition of Interweave".Press Release. F+W Media. Archived fromthe original on 2012-08-03. Retrieved2019-09-12.
  6. ^F+W Media Buys New Track Media
  7. ^F+W Media Undergoes Corporate Rebrand
  8. ^F+W Sells Majority Stake to Private Investment Firm Tinicum
  9. ^abWilson, Denis (August 1, 2015)."Corner Office: F+W Chairman & CEO David Nussbaum on the Company's Decisive Strategic Shift Toward Ecommerce".Publishing Executive. NAPCO Media. Retrieved2019-09-22.
  10. ^Silber, Tony (March 12, 2019)."Two Years At F+W Media: Behind The Scenes At A Company In Chaos".forbes. Retrieved2019-09-12.
  11. ^abKelly, Keith J. (March 12, 2019)."Writer's Digest and Popular Woodworking publisher files Chapter 11".New York Post. Retrieved2019-09-19.
  12. ^Anderson, Porter (January 9, 2018)."F+W Media Staffers Learn in a Memo That Top Executives Have Left Company".Publishing Perspectives. New York, NY. Retrieved2019-09-12.
  13. ^Yerak, Becky (March 11, 2019)."Specialty Publisher F+W Media Files for Bankruptcy, Plans to Sell Business".The Wall Street Journal. Retrieved2019-03-11.
  14. ^abMilliot, Jim; Maher, John (June 7, 2019)."PRH Acquires F+W Book Group Assets At Auction".Publishers Weekly. Retrieved2019-06-10.
  15. ^Hoffelder, Nate (June 8, 2019)."PRH Buys Half of F+W Media At Auction, Including Half of Writer's Digest".The Digital Reader. Retrieved2019-09-12.
  16. ^abDool, Greg (June 17, 2019)."F+W Media Reveals Winning Bidders at Bankruptcy Auction".Folio. Access Intelligence, LLC. Retrieved2019-09-12.
  17. ^Milliot, Jim (April 27, 2011)."F+W Buys Tyrus Books, Launches Crime Vertical".Publishers Weekly. Retrieved2019-09-12.
  18. ^Milliot, Jim; et al. (July 13, 2012)."Digital Imprints Take Root".Publishers Weekly. Retrieved2019-09-12.
  19. ^Deahl, Rachel (May 8, 2012)."Mitchard to Launch YA Imprint for F+W".Publishers Weekly. Retrieved2019-09-12.
  20. ^Hovorka, Alan."F+W Media may lay off 66 people, close Krause Publications' Stevens Point office".stevenspointjournal.com. Retrieved14 March 2020.
  21. ^abc"Landing Page".fwmedia.com.Archived from the original on 2019-09-07. Retrieved2019-09-12.
  22. ^"F+W Books / Overview".Penguin.com. Penguin Group USA. Archived fromthe original on 2020-08-05. Retrieved2019-09-19.
  23. ^Pullen, Fiona (July 31, 2019)."F & W Media International Purchased and Renamed David & Charles".CraftIndustryAlliance.org. Retrieved2019-09-19.
  24. ^ab"Peak Media Properties acquires Fine Arts & Crafts assets of F+W Media".PeakMediaProperties.com. July 28, 2019. Retrieved2019-09-19.[permanent dead link]
  25. ^"Peak Crafts".PeakMediaProperties.com. Retrieved2019-09-19.
  26. ^Glassenberg, Abby (August 1, 2019)."Long Thread Media Buys Spin Off, PieceWork, and Handwoven".CraftIndustryAlliance.org. Retrieved2019-09-22.
  27. ^"Peak Fine Arts".PeakMediaProperties.com. Retrieved2019-09-19.
  28. ^Thatcher, Sharon (July 2, 2019)."Shield Wall Media Takes Ownership of F+W Media Construction Brands".Construction Magazine Network. Shield Wall Media LLC. Retrieved2019-09-19.
  29. ^abBarber, Kayleigh (July 23, 2019)."Why Active Interest Media Salvaged 14 Titles From the F+W Bankruptcy".Folio. Access Intelligence, LLC. Retrieved2019-09-19.
  30. ^DDH Staff (July 2, 2019)."Media 360 Buys Deer & Deer Hunting".Deer & Deer Hunting. Media 360, LLC. Retrieved2019-09-19.
  31. ^Sorensen, Steve (July 15, 2019)."A Corporate Take-Over Taken Back".Jamestown Gazette. Chautauqua Marketing Solutions, Inc. Retrieved2019-09-19.
  32. ^Silber, Tony (March 11, 2019)."F+W Media, Citing Debt, Decline And Mismanagement, Files For Bankruptcy Protection".forbes.com. Archived fromthe original on March 12, 2019. Retrieved2019-09-22.
  33. ^Mickey, Bill (October 6, 2015)."Penton Buys World Tea Media From F+W".Folio. Access Intelligence, LLC. Retrieved2019-09-19.
  34. ^"Gun Digest Promotes Luke Hartle to Editor-in-Chief".Tactical Wire. Outdoor Wire Digital Network. July 26, 2018. Retrieved2019-09-19.
  35. ^abCurci, Nick (June 1, 2018)."Caribou Media Group Acquires BLADE Events".TradeShowExecutive.com. Archived fromthe original on 2018-08-16. Retrieved2019-09-19.

External links

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