Last summer, Cygnus Business Media shut down several magazines in sectors it said were “depressed due to market conditions.” Now, a new company formed by former Cygnus staffers has purchased the publishing assets of a pair of those shuttered trade titles.
NueMedia LLC said earlier this month that it acquired the content, circulation and product archives associated with Wood Digest and Finishing magazines from Cygnus. The deals did not include the magazines’ brand identities, which Cygnus retained.
NueMedia is made up of president Ross Scovotti, a former Cygnus regional sales rep, and ex-Cygnus commercial woodworking group publisher Jay Schneider as CIO.
Under NueMedia, Scovotti and Schneider say they are developing a pair of “Digital Information Portals” around Wood Digest and Finishing called WoodIQ.com and FinishingIQ.com, respectively. Instead of relaunching the brands in print, NueMedia’s DIPs will utilize 4G mobile technology (the successor to the 3G standard) to deliver new and archived commercial woodworking articles and information from the portals to its audience of business professionals.
When contacted by FOLIO:, Scovotti declined to offer many details of the self-financed projects but says, with no shortage of grand ambitions, that NueMedia will “change the face of trade publishing forever.” “It is my belief that if the concept by which trade magazines were launched was born today, there would be no trade magazines, no reason to have paper assets,” he says. “Naturally, the world of market space is a world that offers us tremendous amounts of capability and variety that we can’t get out of static media.”
In its long-term business plan, Scovotti says NueMedia will add tools that will give advertisers the capability to connect to customers 24 hours a day, “regardless of where they are and regardless of which instrument they have at their disposal—they won’t even need to access the internet. … This field is wide open for somebody who knows how to put together and deliver the right package, and that is our goal.”
NueMedia intends to have the portals live by mid-April and fully operational by early May, Scovotti says.