Local Investors Buy WP Magazine
New Ownership for FL Home Media LLC
Winter Park Publishing Company LLC, a new company comprised of community leaders, has purchased the assets of Sarasota-based Florida Home Media, LLC, among them the award-winning Winter Park Magazine, which circulates primarily in Winter Park and Maitland. The purchase price was not disclosed.
In addition to Winter Park Magazine, the company publishes ArtsLife, the official magazine of the Dr. Phillips Center for the Performing Arts, and Florida Homebuyer Orlando, a consumer publication focused on the new-home industry.
“I’m pretty sure that an effort like this is unprecedented in this business,” said long-time editor and publisher Randy Noles, who is a shareholder and CEO of the new company. “People have come to regard Winter Park Magazine as a community asset and were very excited about the opportunity to be involved in this purchase.”
Florida Home Media was originally a spinoff of Sarasota Magazine and Gulfshore Life in Naples, both of which were owned by Dan Denton of Sarasota. Denton recently sold both highly successful magazines to national media companies.
Noles and Denton worked together for 18 years. Noles opened the Orlando division in 2004, and served as a consultant to the magazines in Sarasota and Naples.
“We could have gone the same route in the Orlando market and sought a national buyer,” said Denton, a member of the Florida Magazine Association Hall of Fame. “But given the character of Winter Park Magazine and its standing in the community, we thought it should be owned locally.”
Investors Stand In Line
Noles approached Allan E. Keen, CEO of The Keewin Real Property Company, and Richard J. Walsh, president of Knob Hill Group, requesting help in assembling an investor group to buy the company. Walsh was a co-founder of Winter Park Magazine and published it for three years until it was bought by Florida Home Media in 2012. Keen and Walsh agreed to lend their support and within weeks 44 local investors agreed to get involved.
Editorial Independence Intact
Noles emphasized that the Winter Park Magazine’s editorial independence would not be compromised. He noted the investor group includes people who hold a variety of opinions about local issues, but who are united in their belief that Winter Park is a special place.
“I have no experience in media assets, but my love for Winter Park and the amazing quality of Winter Park Magazine under Randy’s leadership made this an easy decision for Linda and me to invest, and to ask others to join,” said Allan Keen.
Local Ownership Is Key
Walsh added, “This investment not only ensures that a community asset remains under local ownership, but it’s also going to be enjoyable for our shareholders. All of them are proud of their community and view the magazine as the embodiment of that pride.”
In addition to Noles, Keen and Walsh, Theresa Swanson, publisher of Florida Homebuyer Orlando and a leader in the region’s new-home industry, will also be actively involved in the company’s management.
Larry and Joanne Adams; The Albertson Company, Ltd.; Richard O. Baldwin Jr.; Jim and Diana Barnes; Brad Blum; Ken and Ruth Bradley; John Caron; Bruce Douglas; Steve Goldman; Hal George; Michael Gonick; Micky Grindstaff; Marc Hagle; Larry and Jane Hames; Eric and Diane Holm; Garry and Isis Jones; Allan E. and Linda S. Keen; Knob Hill Group (Rick and Trish Walsh, Jim and Beth DeSimone, Chris Schmidt); Mitch Lasky; Drew and Paula Madsen; Kevin and Jacquelin Maddron; Kenneth J. Meister; Jack Myers; Ann Hicks Murrah; Jack Myers; Michael P. O’Donnell; Nicole and Mike OKaty; Bill and Jody Orosz; Martin and Ellen Prague; Serge and Kerri Rivera; Theresa Swanson; Sam Stark; Theresa Swanson; Randall J. Robertson; George Sprinkel; Philip Tiedtke; Roger Thompson; Ed Timberlake; Harold and Libby Ward; Warren “Chip” Weston; Thomas H. Yochum; and Victor and Jackie A. Zollo.