New York Media ‘focused on organic growth’ after potential sale reports surface

NY Mag focuses on 'organic growth' as rumors surface of potential sale of properties. / NYMag PR via Twitter

New York Media, owner of bi-monthly magazine New York Magazine has addressed the news made about the exploration of a sale of its properties.

Following the reports of the sale, Lauren Starke, New York Media’s director of communications, told The Drum: “We are focused on building our business organically, but we also explore investment interest and strategic opportunities as a general practice.”

One of the strategic opportunities Starke mentioned was the acquisition of comedy site Splitsider, which had folded alongside parent company The Awl earlier this year. Splitsider was added to Vulture, the NY Mag culture, entertainment and comedy imprint.

Vulture itself has announced its first dive into television, launching a weekly award show on Turner-owned comedy network TruTV. Meanwhile, its lifestyle and fashion sibling The Cut has recently launched its first-ever print edition.

The potential sales chatter, first mentioned by the Wall Street Journal, came as the publisher celebrates the 50th anniversary of its magazine. During this semi-centennial year, the magazine has worked out with multiple activations across its home city, including a year-long partnership with the Public Art Fund.

Starke added: “Given the growth New York Media has seen, it makes sense for us to evaluate the market for opportunities to continue to develop the business.”

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