Worth magazine sold

CurtCo Media, the Malibu-based publisher of those very glossy and credulous magazines aimed at the super-rich (Robb Report, The Robb Report Collection, Robb Report MotorCycling, Robb Report Vacation Homes, Robb Report Sport & Luxury Automobile, etc.) is selling Worth magazine for an undisclosed price. The buyer is Sandow Media, which publishes New Beauty Magazine. Last week, CurtCo sold Home Entertainment magazine. A couple of years back, CurtCo itself was put on the market for $500 million, but nothing came of it. The company was started by Bill Curtis, who has focused on households with a net worth of more than $5 million. Recently, according to the NY Post, there was talk about Bono's investment company buying a minority stake.

Worth has an interesting history itself. It was initially launched in 1991 with backing from Fidelity Investments, which was a little strange considering that Fidelity sells financial services and the magazine was about personal finance (those were the days when folks paid attention to those things). Eventually, it wound up in the hands of the founder, W. Randall Jones, and in 2003 it was sold to Curtco. Here's the story from Crain's NY Business.

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
Mark Lacter, business writer and editor was 59
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