A brush with a life-threatening illness has a way of shuffling your priorities. Peter Armour, Conde Nast’s senior vice president of consumer marketing, after successful prostate cancer surgery, is planning to end a 28-year stretch with the company in September to head up Long Pond Publishing and manage his first acquisition, Industrial Utility Vehicle.
In a continuation of a story filed last Thursday Armour explains his motivations.
"I made a decision that, especially after going through successful prostate cancer surgery, which I did earlier this year, I thought that it would be good timing to re-evaluate everything and pursue a dream of having my own company," says Armour.
Armour formed and self-funded Long Pond Publishing to facilitate the acquisition in June of Industrial Utility Vehicle, a 10,000-circulation, bimonthly magazine serving the automotive off-highway equipment industry, originally published by Greenwood Village, Colorado-based Webcom Communications.
"This came from conversations with Mike [Kreiter, of media M&A brokers W.B. Grimes & Co.] and he told me of the availability of IUV. It’s the right size and scope that my wife and I will be able to successfully publish," he says.
The magazine comes with its annual trade show, IUV Technology Conference, a Web site and e-newsletter.
Armour credits his experience with Conde Nast’s Fairchild publications as stepping stones into the trade publishing world. "I have a little knowledge of b-to-b publishing because of Fairchild, and my expertise is in direct marketing. I certainly know about databases," he says, adding that he was intrigued by the publication’s multiplatform opportunities.
Armour says he’ll evaluate the title’s circulation further before exploring strategies to add more subscribers. Additionally, the magazine will be produced by freelancers on an "as-needed" basis. No employees will come with the magazine, says Armour.