NewPoint Media Acquires Six Media Brands and Printing Facility from Network Communications
Buyer formed by two NCI senior managers with backing from Lion Equity Partners.
NewPoint Media Group, LLC, a new company formed by two senior managers at Network Communications Inc., has acquired six of NCI‚Äôs major real estate brands as well as that company‚Äôs printing facilities.
The new company, with NCI executives Scott Dixon and Stuart Christian as CEO and president, respectively, partnered with the private-equity firm Lion Equity Partners in the transaction. NCI is based in Lawrenceville, Georgia.
Included in the deal are the Real Estate Book, Mature Living Choices, Senior Living Choices, New Home Finder, New Homes & Ideas, and New Homes Journal brands, along with NCI‚Äôs publication printing division and facilities.¬†
NCI, controlled by Beachpoint Partners, retains the assets associated with Apartment Finder, Unique Homes, ByDesign Publishing, along with home design titles and Digital Sherpa division.
NCI and NewPoint will continue to have an ongoing business relationship. NCI will provide distribution services to NewPoint while NewPoint provides printing services to NCI.
The divested brands are estimated to be about 25 percent of overall NCI revenue, while NCI‚Äôs retained businesses are those considered to have solid digital business models.
‚ÄúWe are all pleased with the outcome of this transaction,‚ÄĚ NewPoint Chief Executive Officer, Scott Dixon said in a press release. ‚ÄúOur president and chief operations officer Stuart Christian and I have both been associated with these brands and this business for years and are excited about the opportunity to continue to grow. Our visions of future opportunities aligned well with Lion Equity‚Äôs vision so our direction and path for NewPoint Media Group is clearly defined. It‚Äôs an exciting time for all of us."