by The Editors on April 30, 2013
Active Interest Media, run by former Times Mirror CFO Efrem Zimbalist III, Time4 Media SVP Andy Clurman and former DC Shoes and Transworld Media CEO Brian Sellstrom, announced today that they have purchased Ski Magazine, Skiing Magazine, and Warren Miller Entertainment from Transworld parent company Bonnier Corp. for an undisclosed amount according to a story in AdAge.com.
The magazines’ print business has diminished since Bonnier bought them from Time Inc. in 2007 as part of a $225 million deal for 18 enthusiast magazines. . . Ad pages fell 33.7% at Ski magazine last year, a steeper drop than the 8.2% decline across magazines as a whole, according to the Publishers Information Bureau. . . The deal, terms of which were not disclosed, also includes the rest of the company’s Mountain Group in Boulder, Colo.; . . . and Nastar, a recreational ski and snowboard racing program.
As one action media professional told old us on hearing the news: “Publishers have been using the “buy high sell low” method for the last dozen or so years.” And we’re guessing that trend is going to continue. It is odd, however, that Bonnier didn’t throw Transworld Media in with the purchase, but they probably believe they can milk a few more years of revenue out of the action sports industry before they need to dump it.
[Editors’ Note: We assumed everyone would know, but the previously unwritten irony here is that Times Mirror used to own both magazines and Clurman and Sellstrom used to run them. So yeah, they’re runnin’ their tread mill after you, their runnin’ their tread mill now.]
[Link: AdAge.com]
by The Editors on April 30, 2013
![Unknown[1]](http://www.boardistan.com/wp-content/uploads/2013/04/Unknown1-tm.jpg)
DC Shoes won’t omit anything when it comes to Chris Cole according to an announcement released by the company today. Cole will now be plastered in DC logos for shoes and apparel. Cole says it’s something he’s always hoped for.
“To have a head to toe sponsor with a signature line of shoes and also now apparel is really what every skater hopes for. I’ve always been very specific about what I skate in, so the fact that DC makes great products is why I am here. I work closely with the DC designers and they have a gift for creating the best shoes and apparel for my style of skating. Thanks to DC for making this happen and for all the support,” said Chris Cole.
For the official word from DC, follow the jump. [click to continue…]
by The Editors on April 25, 2013
After all the excitement about The Boardroom (the consumer surf show formerly known as Sacred Craft) joining the grand parade at the 2013 US Open of Surfing on the sand in Huntington Beach, California, it now won’t happen thanks to US Open event owner IMG’s reported inability to “permit GLM (Boardroom’s owner) to charge admission to the consumer component of a planned trade-plus-consumer.”
“Every year, IMG tries to bring something different to the US Open of Surfing,” says James Leitz SVP of IMG. “For 2013, in support of Vans’ inclusive directive, we teamed up with GLM to bring in The Boardroom. This was a game changer for our industry. A massive trade show footprint on the beach with both B2B and B2C components. Unfortunately, like some big ideas, things just don’t work out. I am confident that The Boardroom will continue to be a huge success.”
So just like that The Boardroom is back on its own and scheduled for October 5 – 6, 2013 at the OC Fair & Events Center. Thanks for playing. For the official word from GLM follow the jump.
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by The Editors on April 25, 2013
Freewaters Footwear has named Robert “Bob” Kelley as CFO. Previously Kelly held positions at Adidas, Tyr, and most recently at Sanuk.
“I had the distinct pleasure of working with Bob for over 8 years while at Sanuk” said Freewaters CEO John Vance. “He knows every aspect of how to stage a company for profitability, while being flexible to the changing markets and spending needs. All of us at Freewaters feel very fortunate to have such a seasoned professional and genuinely good human on board with us at this early stage in our brand’s history.”
Freewaters has also added reps in the southwest, midwest, and in Florida. For the official word on Freewaters spring ramp up, follow the jump. [click to continue…]
by The Editors on April 24, 2013
It’s been a cold, hard winter for fans of June Mountain’s rocking terrain, after parent company Mammoth closed the mountain due to budgetary constraints last year. Now, it appears Mammoth Mountain is putting that all behind them by announcing that June Mountain will reopen for business in “mid-December 2013.”
“We couldn’t be more pleased to announce that June Mountain will be back in operation for the 2013-14 season,” said Carl Williams, general manager of June Mountain. “Next winter we look forward to bringing skiers and snowboarders a great on-mountain experience while also planning for June’s future, including the possibility of a new lift and enhanced snowmaking.”
Now all they need is a new way to get up the face and things will be right back on track. Might have to wait until 2015-16 for that, however. For the official word from Mammoth follow the jump.
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by The Editors on April 23, 2013
So no, there’s been no stalling going on, but Billabong today announced that it has agreed to a request from Paul Naude and his Sycamore Consortium to extend their exclusivity offer period 10 more days until May 8, 2013.
Billabong and the Sycamore Consortium agree that both have been working constructively and with the utmost cooperation to progress the Quality of Earnings report and the potential transaction. Accordingly that extension has been granted and the period of exclusivity will now conclude on Wednesday 8 May 2013. . . It is anticipated that the extension will be adequate for the completion of the report and its consideration.
So, that means the original 10 day exclusive period (which began on April 9, 2013) has now stretched to a month, but then it appears they don’t work weekends. For the official word from Billabong, follow the jump. [click to continue…]
by The Editors on April 23, 2013
The rumors rolling the Australian business press last night is that talks between Paul Naude and Billabong have stalled, but, according to a story in The Age, Billabong says this not the case.
Billabong said it is on track to update the market on the status of exclusive talks on a potential takeover bid after exclusivity period ends this evening. . . ‘‘Consistent with the ASX announcement of April 9th, Billabong will then provide a further update on the status of the proposal,” a Billabong spokesman said.. . He refuted suggestions that negotiations have been delayed by Billabong failing to provide documents to the consortium lead by Billabong executive Paul Naude. . . ‘‘The team continues to work tirelessly and cooperatively, as it has done for almost four months. Any suggestion that information has been held back is entirely incorrect,’’ the spokesman said.
That means there should be an announcement real soon one way or another. Most analysts appear to believe a deal will go through because without it, Billabong is going to need to come up with another AUS$100 million to stay afloat. Talk about being stuck between rocks and sharper rocks. . .
[Link: The Age]
by The Editors on April 22, 2013
Billabong has reportedly wrapped up their exclusive talks with Paul Naude and his Sycamore Partners bakers and now it’s time for them to make a decision, according to a story in The Australian. They could make an announcement sometime today. But some analysts don’t like the deal at all.
Credit Suisse research analyst Grant Saligari has said the 60c offer is a weak one for shareholders, and he criticised Billabong’s decision to allow the Sycamore consortium to have exclusive access to its books after months of due diligence studies and without dropping any of the conditions attached to the proposal. . . The consortium has made its offer conditional on there being no material adverse change in the company’s performance, availability of funding and a minimum 15 per cent of Billabong shares being swapped for scrip in the new holding company.
Guess we’ll all know when we know.
[Link: The Australian]
by The Editors on April 22, 2013
It’s April 22nd and “everybody knows today is Earth Day, Merry Christmas, Happy Birthday to whoever’s being born,” and to celebrate the day, Burton Snowboards has announced that they have “stepped-up efforts” to support Protect Our Winters.
“Burton has a deep responsibility to the sport we helped pioneer and to the people and environment that sustain it,” said Burton President Donna Carpenter. “We are riders, and we take climate change personally because snowboarding is our life, our livelihood and our passion. By working more closely with POW, our hope is to encourage snowboarders to get involved with the very important work the organization is doing. Together, we can protect our winters.”
Burton is also working to “encourage more riders to join POW’s efforts.” Today they’re launching an “awareness campaign on Instagram. . . To get involved, riders simply upload a photo and caption that shows how they protect our winters to @burtonsnowboard on Instagram and tag #HowYouPOW.” For the official details, follow the jump. [click to continue…]
by The Editors on April 19, 2013
Fenway Partners, the New York-based private equity fund that owns Giro Helmet‘s parent company Easton-Bell is reportedly putting the company up for sale, according to a story on Reuters.
Based in Van Nuys, California, the company sells its products under several brands, including Easton, Bell, Riddell, Giro, Blackburn and Easton Cycling. It generated net sales of $827.2 million in fiscal year 2012.
According to the story, “people familiar with the matter” say the sale could bring as much as $900 million. Others, say it maybe difficult after a judge ruled that their football helmet arm, Riddell, may not have sufficiently warned players about the danger of concussions while wearing the helmets.
[Link: Reuters]
Active Interest Media, run by former Times Mirror CFO Efrem Zimbalist III, Time4 Media SVP Andy Clurman and former DC Shoes and Transworld Media CEO Brian Sellstrom, announced today that they have purchased Ski Magazine, Skiing Magazine, and Warren Miller Entertainment from Transworld parent company Bonnier Corp. for an undisclosed amount according to a story in AdAge.com.![Unknown[1]](http://www.boardistan.com/wp-content/uploads/2013/04/Unknown1.png)
