Surface Magazine Sold to Quadra Media
Holding company takes full ownership stake in fashion, design title.
Quadra Media has acquired the remaining assets of New York-based Surface magazine, a bimonthly fashion and interior design title.
Quadraâ€”a holding company headed by Nylon owner Don Hellinger and former Berkery Noyes managing director Christopher Shannonâ€”had purchased a 10 percent stake in Surface earlier this year. â€śAcquiring the remaining stake in Surface was a no-brainer,â€ť Shannon told FOLIO:. â€śWe like to have a quick impact financially but this acquisition came about quicker than we expected. Looking at our other properties, the strategic partnership makes a lot of sense.â€ť
Quadra also has an investment in New York-based arts and style magazine Tokion, and its popular annual conference, Creativity Now.
As part of the acquisition, Quadra shut down Surfaceâ€™s San Francisco office and made â€śa couple of layoffs,â€ť Shannon said. â€śThe magazine was lean before but weâ€™ve realized some efficiencies.â€ť
Surface co-founders Richard Klein and Riley Johndonnell will remain with the magazineâ€”Klein as publisher and Johndonnell as head of creative.