Aspire Media’s Interweave Press Acquires GEMS group from Primedia

Aspire Media, a company formed by Clay B. Hall to acquire consumer enthusiast media businesses with the backing of private equity firms Frontenac Company and Catalyst Investors, announced today that its subsidiary, Interweave Press, completed its purchase of GEMS Group, a magazine publisher and event operator for gem, bead, and jewelry arts enthusiasts owned by Primedia, Inc. (NYSE:PRIM). Terms of the transaction were not disclosed by Aspire Media or Interweave Press.

GEMS Group Publisher Joe Breck will continue to serve as Group Publisher of Lapidary Journal, Step by Step Beads, Step by Step Wire, and Colored Stone magazines and related events from the current location in Malvern, Penn. The acquisition also includes numerous special interest publications, including the Tucson Show Guide, Wedding Jewelry, Creative Jewelry, and Step by Step Clay Jewelry; five of the foremost special events in this enthusiast market, including Jewelry Arts Expo and Bead Fests; and a leading craft web site.

Joe Breck said, “We have a talented and cohesive group here and I am excited that Interweave  Press wants us to continue to build this company with our current staff from our current location. Under Interweave’s ownership, we expect that we’ll be able to thrive and continue to grow.” Aspire Media’s Chief Executive Officer Clay Hall said the acquisition by its Interweave Press, LLC unit helps implement Aspire’s strategy to acquire and build upon strong enthusiast magazine titles, expanding their franchises through the acquisition and development of related directories, web sites, affinity clubs, database marketing, television programming and events.

“Our acquisition of Interweave Press—publisher of such well-known titles as Beadwork, Stringing, Interweave Knits, Handwoven, Spin-Off, PieceWork, and Fiberarts—in June 2005, followed by our acquisition of Bead Expo earlier this year, helped establish us as a leader in this market,” said Hall. “Now, with the addition of the GEMS Group media properties and events, Interweave Press is the leading and most trusted source of information for beading and jewelry making enthusiasts.”

Linda Ligon, Founder and Creative Director of Interweave Press, said, “We’ve had a longstanding relationship with Joe Breck and his group based on mutual trust and respect. We look forward to being able to offer advertisers, exhibitors, and sponsors an opportunity to reach even more enthusiasts at different stages of their skills and interests.”

The following is a brief description of the assets Aspire Media is acquiring:

• Lapidary Journal is published 12 times annually. Founded in 1946, it is the world’s oldest how-to-journal targeting the jewelry artist and mineral collector audiences. It provides step by step lessons on jewelry making, business advice on marketing jewelry, show calendars, and product indices.
• Colored Stone is published six times annually and is the only trade publication reporting on all facets of the colored gemstone industry, including worldwide events, mining, distribution, processing, marketing, and consumer trends.
• Step by Step Beads was founded in 2004, is published six times annually and serves a growing market of beading enthusiasts who want easy-to-follow directions for making both simple and complex beaded jewelry and accessories.
• Step by Step Wire Jewelry was founded in 2005, is published 4 times annually and teaches beginners and advanced jewelry makers to make creative and attractive wire jewelry.
• Additionally, six special events operated under the GEMS banner were acquired by Aspire Media: Jewelry Arts Expo, held in Fort Washington, Penn.; Bead Fest Memphis, Bead Fest Atlanta, and Bead Fest Philadelphia, which will be held in October 2006, Wire Jewelry Expo; and Jewelry Fest, to be held in Wilmington, Del. in December 2006.