Tuesday, January 31, 2012

Jim Pattison Group buys Comag newsstand distribution firm from Hearst and Condé Nast

Two of the pillars of U.S. magazine publishing, Hearst and Condé Nast, have exited the magazine distribution business and sold their share(s) in Comag Marketing Group (CMG) to the Jim Pattison Group (JPG)of Vancouver. It should have a major impact on the single copy sales and marketing business.
JPG is a privately owned BC-based conglomerate which owns the News Group, North America's largest magazine and book wholesaler.
The deal involves entering into a long-term distribution agreement with the two publishing companies and letting them concentrate on their core competencies, , according to a company release.The CMG headquarters will remain in Princeton, New Jersey.
"JPG's purchase of CMG represents a watershed moment to enhance the current supply chain model by properly aligning the economic models, which will better serve the needs of publishers, wholesalers and retailers. It is designed to migrate focus from inter-channel tension to a renewed collaboration with the retail trade on brand marketing and consumer promotion, ultimately growing the magazine category -- which is our overarching goal."
CMG has been jointly owned since 2000 by Hearst Corporation and Condé Nast Publications, Inc.providing sales, marketing and promotional services in the mass market, direct-to-retail and specialty market channels.
Hearst is one of the world's largest publishers of monthly magazines, with 20 U.S. titles and more than 300 international editions, more than 28 websites and 14 mobile sites and has published more than 150 applications and digital editions for mobile and tablet media.Condé Nast publishes 18 consumer magazines, four business-to-business publications, 27 websites nd more than 50 apps for mobile and tablet devices, all of which define excellence in their categories. The company also owns Fairchild Fashion Media (FFM). 
JPG is involved in automotive, media, packaging, food sales and distribution, magazine distribution, entertainment, export and financial industries and had sales of over $7.2 Billion in 2010. With more than 33,000 employees, the Jim Pattison Group is the third largest private company in Canada.

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