NCI Gets Rid of 3 More Properties
Former exec buys titles, launches luxe publisher.
Network Communications, Inc. is selling off a handful of its regional luxe brands for the second time in as many weeks.
Adam Japko, former president of NCI’s luxury home and DigitalSherpa divisions, is the buyer this time. Esteem Media, founded independently by Japko last week, will serve as the parent company for the properties—Atlanta Homes & Lifestyles, and two small events, the Design Bloggers Conference and Garden Bloggers Conference. Esteem will be based out of Boston, though the magazine and shows have Atlanta roots.
While terms weren’t released, Japko says it was an all-cash deal with no debt.
The sale comes a week after NCI sold two Colorado-based luxury titles—Colorado Homes & Lifestyles and Mountain Living—to Wiesner Media for an undisclosed amount.
It’s also similar to the 2012 sale of six NCI real estate brands and its printing facilities. Scott Dixon and Stuart Christian, NCI executives at the time, partnered with Lion Equity Partners to buy the properties.
Next up for Esteem? More events.
"We are planning more in-person events that physically connect luxury-driven online communities with commercial and educational purposes," Japko says.
Though Japko has left NCI full time, he’ll stay on in an advisory role.