Hibert Publishing Sells Off Magazine Assets
Colorado Parent acquired by 5280 Publishing while Westchester Family joins CNG.
Hibert Publishing has sold Colorado Parent and Westchester Family in two separate deals that owner Gary Hibert said likely mean the end for the company he’s run since Nov. 2012. Parties close to the deals declined to share the terms of sale.
Westchester Family, five ancillary publications, and its website were acquired by Community News Group (CNG), a publisher of New York-based magazines and newspapers. The monthly magazine has a circulation of 35,000 and will retain most of its staff.
Colorado Parent was acquired by Denver, Colorado, based publisher 5280 Publishing in a deal which includes the monthly magazine, six annual publications, and the related digital properties. The Colorado assets join the namesake magazine 5280, and its ancillary publications 5280 Home, 5280 Health, and 5280 Traveler, as well as digital properties.
This purchase doubles 5280 Publishing’s annual issues from 18 to 36, expanding its footprint as a dominant media player in the Denver-lifestyle space.
With Colorado Parent’s circulation of 45,000, the acquisition provides a significant bump to 5280 Publishing’s reach, increasing its print audience by 23 percent. Research from The Media Audit showed that 9.7 percent of Colorado Parent’s readership overlaps with 5280’s, which brings the total unduplicated print audience to an average of 518,845 readers per month.
For 5280 Publishing president Dan Brogan, this acquisition is part of a larger expansion plan, and he’s open to more.
"About five years ago, we started launching ancillary titles and were looking at a variety of subject areas,” Brogan said in an email.
“Parenting was an obvious one, but the market already had a strong player in Colorado Parent, so we decided not to pick that fight…When [Hibert] decided it was time for a change, I was really flattered that he called me first. We were able to put the deal together very quickly."
Six full-time employees will stay on from the Colorado Parent team, eventually joining 5280 Publishing staff at their office in downtown Denver.
Despite selling off his properties, Hibert said he couldn’t be happier with the future of the publications. Hibert Publishing had a 94-percent female readership, a demographic that he said keeps publishing alive.
“Print being dead — it isn’t true. Magazines are still doing very well,” Hibert said.