What are we to make of the news that Vitality Publishing has sold Attitude to a spin-off company to leave itself with just Loaded and Superbike magazine.
In 2010 Vitality bought four titles from the IPC bargain rail, Loaded, Superbike, Prediction and Hair. At the time, some eyebrows were raised at the opaque ownership structure of Vitality. Prediction seems to have been immediately floated off as some form of MBO, Hair was part of the portfolio of titles sold to Haversham in July 2011. With Attitude gone, Vitality is left with two magazines both of which suffered ABC falls of more than 25% in the last returns. Further to this, back in January Vitality itself became the subject of a management buyout.
The new owners of Attitude have this on their website (links added)
The new owner is Attitude Media Limited, a joint venture company that draws on the strengths of the magazine’s previous custodians – Triactive Media’s Justin Sanders and Vince Nicholls, who retain a substantial shareholding – and newly introduces Mash Media’s events publishing specialist Julian Agostini (Exhibition News, Conference News) and contract publisher Darren Styles
One of the ‘directors’ of Vitality is listed as Griffin Corporate Finance, directors of which include Vince Nicholls and Adam Ward, who is also a director of TriActive and a former director of Interactive Publishing (who used to own Vitality). Justin Sanders was also a director of Interactive
I’m just a poor retired undertaker and philatelist and the machinations of yon financial types are above my head. Perhaps someone could draw a nice diagram to show how all these lovely people are related commercially?