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F+W PUBLICATIONS ACQUIRES ADAMS MEDIA
Purchase strengthens F+W position as leading enthusiast publisherF+W Publications, Inc. has announced the acquisition of Adams Media Corporation, a Boston-area book publisher best known for its branded series including the million-copy selling Everything® books.
In addition to the Everything® series, the publisher is known for the Streetwise®, Knock 'em Dead (tm), and Cup of Comfort (tm) series. The announcement was made today by Stephen J. Kent, President of F+W Publications, Inc., and Bob Adams, the founder and CEO of Adams Media. Terms were not disclosed.
"We have always had a high regard for the management and reputation of F+W," said Bob Adams. "Being under the F+W umbrella will extend our reach internationally and allow us to grow into an even more significant presence here at home." Adams will remain with the Company, in the capacity of consultant. Scott Watrous, Adams' COO, will continue in his role and oversee Adams Media as a division of F+W.
"This acquisition expands F+W's catalog, adding 140 new titles per year to the company's product list and extending the backlist by more than 700 titles," said William Budge Wallis, Book Division President. "We're looking forward to growing the line together," he added.
Concurrent with the acquisition, Wallis will gain responsibility for the Adams book line working closely with Watrous. New titles are now estimated to be 600 annually across all F+W divisions, with an active backlist of almost 3,000 titles.
All employees of Adams have been offered continuing employment with F+W. The 70 Adams employees will remain in the Avon, Massachusetts office outside Boston.
F+W is owned by Providence Equity Partners, William F. Reilly, the Chairman of F+W and the founder and former CEO of Primedia, Stephen J. Kent, President and certain members of management. In addition to serving as Chairman of F+W, Mr. Reilly also serves as Chairman of Aurelian Communications, a firm he founded in 2001 for the purpose of identifying publishing and media acquisitions.