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Article: Fly fishing lures Rodale. (Rodale Press invests in Abenaki Publishers; companies will launch Fly Tyer and Saltwater Fly Fishing magazines)(Brief Article)
- Article from:
- Folio: the Magazine for Magazine Management
- Article date:
- June 1, 1995
- Author:
CopyrightCOPYRIGHT 1995 Copyright by Media Central Inc., A PRIMEDIA Company. All rights reserved. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Continuing its strategy of partnering with entrepreneurs, Rodale Press has taken a minority equity stake in American Angler owner Abenaki Publishers. The companies plan to launch two fly-fishing quarterlies this summer--Saltwater Fly Fishing (Rodale bought the assets last year) and Fly Tyer.
Terms of the April deal were not disclosed, but Rodale made only a small upfront cash payment for its stake, estimated at about 20 percent.
Two Rodale executives sit on the four-person board, but have no operating control. "[I still] want to be running my own show," says Abenaki CEO Joe Migliore--a former Bill Communications and Lakewood Publications executive who bought ...