Brunico founder sells out to investor group

Brunico Communications Inc., publishers of Strategy, Media In Canada, Playback, KidScreen, Realscreen and 'Boards has been sold to a group of private investors.

Brunico's founder and executive publisher Jim Shenkman, who founded the company 20 years ago, will stay on full-time for a year or so as chairman and member of the senior management team, enabling a transition to the new management. Russell Goldstein, who led the buyout group, will serve as president and CEO. (Goldstein was at Digital Cement for the past four years working with brands such as Kraft Foods, Dell, and FedEx. Prior to Digital Cement, he also worked at Rogers Cablesystems, where he was responsible for planning and launching new broadband services.)

"What excites me about Brunico are the international scope of operations, the strength and quality of the brands within the entertainment and marketing sectors, and most of all, the reputation and talent of the team that I'll be working alongside," says Goldstein, in a story published online by Media in Canada

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[Update: Mastheadonline(sub req'd) estimates that the sale price for Brunico, which was not confirmed, would have been about $10 million. It also says that Shenkman will now concentrate much of his attention on his family's major holding in the International Centre in Mississauga.]