January 28, 2009 –The shareholders of Down East Enterprise Inc. announced that they have completed the sale of all interests and assets of Performance Media LLC to Anthem Media Group of Overland Park, Kansas. The sale includes Speedway Illustrated, the leading magazine for stock-car enthusiasts, its accompanying Web site (www.speedwayillustrated.com) and the annual Speedway EXPO consumer show.
“Speedway Illustrated has a long-standing reputation as a highly respected, high-quality product and we're excited to have it in our family of publications," said Tom Pokorny, President of Anthem’s Motorsports division. "The Performance Media business complements our various motorsports properties. And, of course, having Dick Berggren on board is a tremendous asset to any organization.
“We looked closely at this opportunity and decided that the time was right to make a sale of Performance Media,” said Down East Enterprise President Bob Fernald. “This allows us to re-focus 100 percent of our energies here at Down East Enterprise Inc. on our core brands and to continue developing partnerships that are more strategic in nature.”
Since the Rockport-based Down East Enterprise provided mostly contracted services to Performance Media, whose editorial offices are based in Salisbury, Massachusetts, the sale is not expected to have any impact on Down East’s core business here in Maine.
Down East Enterprise is a multimedia company, producing lifestyle and niche information through its award-winning books, magazines and interactive Websites. Its flagship media brand, Down East, was founded in magazine format in 1954 and today “The Magazine Of Maine,” synonymous with the state itself, reaches more than 270,000 readers worldwide. In 1977, Down East began publishing books by the state’s best authors and artists. In recent years, the company expanded its family of media brands to include Shooting Sportsman and Fly Rod & Reel magazines, books, and Web sites. In addition, www.downeast.com has become the preferred Web site for all things Maine, offering travel information, videos, pictures, blogs, an online store and more. Its MaineHomes.com offers thousands of real estate listings, while boat lovers can buy and sell boats in “The Boatyard” on downeast.com.
Performance Media LLC published Speedway Illustrated, the leading magazine for stock-car fans and racers alike, as well as custom publications NASCAR Insider (for the National Association for Stock Car Auto Racing) and Inside the Oval (for Team Ford Racing). The company also produced the annual Speedway EXPO consumer show.
Anthem Media Group is a multi-disciplined marketing firm specializing in message development and audience building and engagement. In addition to the Kansas City-based headquarters, AMG has offices in St. Louis, Mo., Las Vegas, Nev. and Daytona Beach, Fla., and has more than 85 employees and 60 independent contractors. For more information on AMG, visit thisisamg.com.
Regional Media Advisors, an M&A advisory firm dedicated to the regional media sector, represented Down East Enterprise Inc. in this transaction.