Wall Street

A New Wave Garden In Oceanside, California?

by The Editors on June 5, 2019

Developers in San Diego, California (home to some of the best surf in the world) have announced plans to turn an old drive-in movie theatre turned swap-meet into a Wave Garden surfing pool. Yes, it’s a 15 minute bike ride to the Oceanside Pier, yes, it’s a 35 minute drive to Trestles, but developers are chasing the same dream that has sidetracked many developers in the past — perfect waves all the time, according to a story in the San Diego Reader.

The Oceanside Swap Meet, launched in 1971, held its last weekend event April 28 Its 90 acres on Mission Avenue in the San Luis Rey Valley, was originally built as a four-screen drive-in movie attraction. It was purchased by Zephyr Partners for an undisclosed sum. . . Weiss says the early plans offered by Zephyr call for 35 acres to be devoted to the wave park and accompanying restaurants, businesses and hotel rooms that would all be aimed at the surf culture. Another 20 acres would be set aside for open space, while the remainder 35 acres would be devoted to residential homes, public roads, and other public needs.

Let’s just say we’re looking forward to seeing it completed, but we’re not expecting much.

[Link: San Diego Reader]

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Plug Pulled on Dirk Ziff’s Palm Beach Pond

by The Editors on June 4, 2019

You might expect someone who inherited a massive fortune to be more frivolous with their money, you know, like blowing it on fringe sporting leagues, or building surf ponds on hot, dusty Central Californian farm land, but not the backer of a certain privately owned entertainment company specializing in event and online streamed content production (mostly surfing sport). No, Dirk Ziff is a savvy businessman who knows when to call it quits, and that’s exactly what his organization did with their plans for a wave pond in West Palm Beach, Florida recently.

More importantly Ziff is wise enough not to harm the rest of his surf interests by admitting in the press that his wave pond business model is terminally flawed. No, when Mr. Ziff pulls the plug on a project, he does what many businessmen have done before him, he blames the location. Here are the details in a story posted on Florida Today.

“The WSL is disappointed to confirm our decision to cancel the development of the wave basin planned for West Palm Beach, Florida. . . .The nature of this site, including the extremely high water table, exposed unforeseen challenges that made the decision around this unique project clear. These projects are complex and, in many ways, without precedent, and we have learned important lessons in this process.”

Seems the local “water table”  would have been the first thing wave pool planners would have investigated, however, often times the majority of the benefit of a project like a wave pool is the press announcement that it will be built, not on building it, or losing money running it. We’re bearish on the Dirk Ziff wave pond model in general. Let us know if they build another one anywhere in the world.

[Link: Florida Today]

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This Month’s News List Today

by The Editors on May 30, 2019

This is the list of the news stories we didn’t have time to read, comment on, and/or pass on to you in a more visually pleasing format. Follow the link and enjoy! If you read something you like, leave a comment. It’s certainly okay to speak your mind every now and again.

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SI Joins Salter’s Zombie Brand Portfolio

by The Editors on May 29, 2019

It’s official, Jamie Slater and his Authentic Brands Group of zombie brands (which now include Volcom, Airwalk, Vision Street Wear, and 47 others) has purchased the softcore skin and sports magazine brand Sports Illustrated from Meredith Corp for $110 million dollars, according to a story on Variety.com

Under terms of the deal, Authentic Brands acquires the rights to market, develop and license Sports Illustrated and its kids’ edition as well as its swimsuit and “Sportsperson of the Year” franchises, along with the magazine’s photo archive. Meredith will pay a licensing fee to operate the editorial operations of Sports Illustrated in print and in digital for a minimum of two years. Editor Chris Stone and Publisher Danny Lee will continue to lead Sports Illustrated at Meredith.

So, Meredith is selling the brand and then paying to run the print magazine into the ground while ABG gets to re-animate  Sports Illustrated by slapping it on all kinds of products until no one remembers what SI was all about in the first place. Chalk that up as another win-win for ABG.

[Link: Variety]

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Jamie Salter Buying Sports Illustrated?

by The Editors on April 30, 2019

In the continuing saga of strange zombie brand shenanigans, it is being reported that Authentic Brands, the company that just purchased Volcom is very seriously considering purchasing Sports Illustrated, the fading print magazine known most widely for it’s annual bikini issue, for $110 million, according to a story on Pitchbook.com.

If Authentic Brands ultimately wins the auction, it would keep SI’s print product alive for at least another two years, per retail-focused website WWD. But its bigger play would be licensing SI’s brand, which could reportedly include launching kids’ sports camps and injury rehab clinics. That sort of cross promotion is what Authentic Brands has specialized in while building consumer brands for celebrities such as retired NBA star Shaquille O’Neil and ex-pro golfer Greg Norman. Here’s to hoping this strategy could produce a viable business model to preserve SI’s journalistic aspirations. 

ABG has enough women’s wear brands to pack that bikini issue, and when you look at print advertising costs, it may be cheaper to just buy the magazine. We’ve said it as a joke before, but it’s looking more and more like Jamie Salter really will own everything soon.

[Link: Pitchbook]

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This Week’s News Headline Dumpage

by The Editors on April 24, 2019

All the headlines, no comments. Scan them, click them, read them, or just ignore them. A couple of these stories are worth reading and we’d point them out to you, but, well, that would take more time. You’ll just have to hunt them out yourself. Cheers.

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Surfer Magazine Parent Sells National Enquirer

by The Editors on April 18, 2019

American Media LLC, the company that purchased a gutted Adventure Sports Network in January 2019 has apparently sold the National Enquirer (and a couple other tabloids) to Hudson Media. for $100 million, according to a story on WWD.

James Cohen, part of the family that founded Hudson News Distributors, is buying the U.S. and U.K versions of the gossip magazine from David Pecker’s American Media LLC (recently renamed from American Media Inc.), which acquired the title 20 years ago. The $100 million deal also includes two other tabloids, Globe and National Examiner. . . Pecker — whose friendship with President Donald Trump and the use of the Enquirer’s coverage to aid Trump’s candidacy and perhaps even his personal vendettas has come under intense scrutinyover the last year — wrote in a statement that the group of magazines actually pull in $30 million in profit annually.

Not sure what this really means other than Snowboarder, Skateboarding, and Surfer Magazine are no longer siblings of the politically embroiled gossip rags and AMI is a little less in debt — only $355 million now. Ouch.

[Link: WWD]

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The 2019 Boardroom Surf Show Del Mar

by The Editors on April 16, 2019

On May 4 and 5, 2019 the Del Mar Fairgrounds will again play host to The Boardroom International Surfboard Show.

Celebrating its 12th year, the Boardroom (formerly Sacred Craft) highlights the surfboard manufacturing industry. A gathering of like minded enthusiasts who are drawn by an authentic love for riding waves and the crafts that move us along those waves.

The event features booths from all your favorite surfboard brands and craftspeople, parties, talks, the California Gold Surf Auction, and the Icons of Foam Tribute to the Masters shaping competition honoring Wayne Lynch. The shaping comp will feature Travis Reynolds, John Oppito, Jordan Brazie, Steve Brom, Ryan Burch, Dan Mann, Daniel Tomson, and Shyama Buttonshaw. What them work their magic live on in person.

Tickets for the weekend are $15, kids 16 and under always free. For tickets, click here. For more information follow the jump.

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Jamie Salter Gets Stoned

by The Editors on April 2, 2019

It’s hard to believe, but it appears that eventually every dead fashion brand ends up in Jamie Salter’s hands. So it should be no surprise that he was able to add Volcom to his arsenal of 50 zombie brands which also includes Airwalk and Vision Street Wear.

“We are thrilled to have completed the purchase of Volcom,” said Jamie Salter, Chairman and CEO of ABG. “For nearly three decades the Volcom family has created one of the most iconic brands in the skate, surf and snow markets. During the last few years, the brand has been consistently gaining traction with broader audiences around the world while staying true to its core. We could not be happier to finally get to work with this team.”

Yes, this is an over-simplification of the deal which includes the creation of a new operating group run by Todd Hymel and the current Volcom management of which ABG is a minority partner, but hey at least Vee-Co is out from under the French and zombie brands live forever.

For the official word and no mention of how much ABG paid for Volcom (last time it sold for $607 million, this time we’re guessing much, much, much less) please follow the jump.

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Apple’s News+ App Includes Surfer Magazine

by The Editors on March 26, 2019

In a keynote address yesterday (March 25, 2019), Apple’s Tim Cook mentioned that their newly launched News+ app is like having an “entire newsstand on your iPhone,” but for us, not so much. First, as we’ve been saying lately there aren’t many surf, snow, or skate magazines left, and second, the only one that made it onto the Apple app is Surfer Magazine. The new “Netflix for magazines” app charges users $9.99 a month for unlimited magazine viewing from at least 300 different magazine titles.

For the olds who enjoy reading The New Yorker, Vanity Fair, Rolling Stone, The Week, and Surfer, this new subscription model might not be terrible, but spending $120 a year for magazines that can only be read on iPhones, iPads, or Apple computers, doesn’t seem like the best deal when a Surfer Magazine subscription can be purchased online for $14. For more info on Apple News+ please click the link.

[Link: News+]

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