Zinio Welcomes New Ownership and Makes Plans for Growth
Successful Entrepreneur David Gilmour Acquires Leading Digital Publishing and Delivery Platform
San Francisco, CA (February 13, 2007) - Zinio, LLC, the leading digital publishing and distribution platform for magazines and books, announced today that it has been acquired by Gilvest LP, an investment entity owned by entrepreneur and renowned businessman David H. Gilmour and managed by Doug Carlson. Financial terms of the agreement were not disclosed. Mr. Gilmour and Mr. Carlson have a successful track record in growing small businesses and will provide new capital to help fund technology advancements to support Zinio's continued growth.
Zinio sells, produces and distributes a diverse portfolio of more than 1,200 digital magazine titles and textbooks from more than 240 publisher partners. The company provides fulfillment services for publishers along with domestic and international online retail newsstands and bookstores. Its robust platform enables customers, regardless of geographic location, to search, purchase and immediately access digital publications, rather than waiting weeks or months
for fulfillment and delivery. Since 2002, the company has distributed more than 65 million publications for online or offline reading.
"The acquisition was based on vision, timing and the extraordinary ability and passion of the people at Zinio," said David Gilmour. "The company represents the most important fundamental change in the last 150 years of publishing and distribution. Zinio is the solution to the problems of waste, pollution and escalating costs in conventional print publishing. This technology has initiated change and provides for a new era of interactive media that eclipses the flat world of publishing today."
Gilmour's career comprises an extensive history of successful ventures. He was the founder and chairman of FIJI Water, which he sold in 2004. Gilmour also was co-founder of the South Pacific Hotel Corporation, Barrick Gold Corporation - the most profitable gold-mining firm in the world - and Horsham Corporation, which was to become TrizecHahn, one of the largest publicly traded REIT companies in North America. Last year, Gilmour founded VIV Publishing LLC, which publishes the first all-digital healthy lifestyle publication for women called VIV Magazine(vivmag.com). Carlson was the CEO of Aspen Club Enterprises, SVP and CFO of The Aspen Skiing Company, the
co-founder and CEO of FIJI Water and presently the cofounder and CEO of VIV Magazine.
While the ownership structure of Zinio is changing, the company's current management team will continue to be led by president Richard Maggiotto. Mike Perlis, chairman of Zinio's previous board and former president and CEO of Ziff Davis Publishing, will remain a trusted adviser.
"Since its inception, Zinio's mission has been to serve as the digital bridge between publishers and readers with our immediate and interactive global offerings," Maggiotto said. "Mr. Gilmour understands what it takes to build a brand to be the gold standard. His vast business experience and guidance will help Zinio fulfill its mission by continuing to provide the highest quality service and products for our publisher partners and digital consumers."
For more information, or to purchase any of the digital titles offered by Zinio, visit www.zinio.com, www.textbooks.zinio.com, or www.zinio.com/global for international publications.