Yankee Publishing Acquires McLean Communications
Five regional titles, digital properties and several events included in the deal
In the New Year, regional media company Yankee Publishing, Inc. welcomes some new additionsâ€”the company has acquired the entire portfolio of McLean Communications, which include five regional New Hampshire titlesâ€”its first such acquisition in 25 years.
â€śEssentially all of the assets of the corporation were included,â€ť says Jamie Trowbridge, president and CEO of Yankee Publishing, Inc. â€śIâ€™ve been watching this company grow in New Hampshire throughout the years and itâ€™s a great fit with our company.â€ť
Trowbridge declined to release financial terms of the deal.
The publisher and president of McLean Communications, Sharron McCarthy, came to New Hampshire-based Yankee Publishing after learning that the businessâ€™ parent company, Independent Publications, Inc., would be putting McLean Communications up for sale. The whole deal, says Trowbridge, took about three months to complete.
The assets included in the deal, in which Regional Media Advisors acted as advisor to McLean Communications, are as follows:
- Monthly lifestyle publication New Hampshire Magazine, which has an estimated circulation of 26,000
- Six-times-per-year New Hampshire Home magazine, which has a circulation of about 18,000
- New Hampshire Business Review, a bi-weekly tabloid newspaper with a circ of about 12,700
- Monthly title Parenting New Hampshire magazine, which has an estimated circ of about 22,000
- Associated websites
- Custom publications
- Affiliated events and awards programs
â€śThis is a way for us to grow our local and regional business,â€ť adds Trowbridge. â€śWe already publish two magazines about New Hampshireâ€”the official New Hampshire visitorâ€™s guide for the State Office of Tourism and a magazine called New Hampshire Ski and Snow. Weâ€™re very involved, especially with [our New England lifestyle title] Yankee, in serving the New Hampshire market. This is a way to expand that.â€ť
In addition to gaining increased reach across the region, this deal allows Yankee Publishing to obtain new sources of revenue not previously available to the company.
â€śOur publishing business models are substantially different,â€ť says Trowbridge. â€śFor Yankee Magazine and the Old Farmerâ€™s Almanac, we get most of our revenue from the consumer through subscriptions or single copy sales. For McLean, they get nearly all their revenue from advertising. I see this as a way to diversify our business.â€ť
Beyond bringing in new advertising dollars, Yankee Publishing plans to immediately invest in revamping the online presence of the McLean properties. All of the staff, except the position of business manager, is expected to be maintained.
â€śWe will continue to grow Yankee Magazine and the Old Farmerâ€™s Almanac brandsâ€”the acquisition is an exciting way to branch out from what weâ€™ve been doing for quite sometime,â€ť says Trowbridge. â€śWe see these operations existing separately but running in parallel and learning from each other.â€ť