Time Inc. (NYSE:TIME) today announced the sale of SUNSET to
Regent L.P., a Los Angeles–based private equity firm led by
investor Michael Reinstein. Based in Oakland, California, SUNSET is
the defining lifestyle brand of the modern American West, with
coverage that includes travel, food, wine, home and garden across
its monthly print publication, digital and social platforms, books,
events and experiences. The storied brand, which was founded in
1898, has been a forum for literary giants like Jack London,
Dashiell Hammett and Sinclair Lewis, a showcase for
transformational architecture and design, and a launching pad for
the modern environmental movement through its early affiliation
with conservationist and Sierra Club founder John Muir.
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“As a native Californian, I am honored to take the mantle as the
fourth owner of this iconic and beloved institution. For almost 120
years SUNSET has been the definitive, pioneering voice of the
promise, hope, values and innovative spirit of the West,” said
Michael Reinstein, Chairman, Regent L.P. “We are excited to partner
with SUNSET’s talented Editor-in-Chief Irene Edwards and her
accomplished team to ensure that SUNSET continues to thrive for
generations to come.”
“We’re pleased to have found such a passionate buyer in Michael
Reinstein and Regent. For 27 years, we’ve expanded SUNSET’s
influence and reach as the defining lifestyle brand of the modern
American West serving an audience of 6.5 million across
platforms. Now, under the new ownership team led by Michael
Reinstein, SUNSET will have the opportunity to reach new heights.
We thank the SUNSET team for their talented work, tireless
commitment and passion,” said Rich Battista, President and CEO,
Time Inc.
SUNSET reaches an audience of more than 6.5 million across
its digital, print and social platforms. Its flagship events
include the annual Celebration Weekend, which debuted in 1998 and
has drawn hundreds of thousands of attendees with celebrity chefs,
garden tours, wine seminars and stand-alone experiences, such as
the SUNSET Smart Cottage; the SUNSET Idea House program, which will
debut its Palm Springs Idea House at the Modernism Week design
festival in February; Camp SUNSET, a summer camp-inspired workshop
series taught by SUNSET editors that will launch to consumers in
2018; and the SUNSET International Wine Competition, one of the
most successful wine competitions launched in US history.
ABOUT SUNSET
SUNSET (http://www.sunset.com) is the defining lifestyle brand
of the modern American West. Through magazines and books, events
and experiences, and digital and social media, the iconic
120-year-old brand covers the region’s top destinations, food and
wine experiences, home and garden trends, and personalities. SUNSET
engages and inspires an audience of more than 6.5 million
educated, active and affluent consumers every month through its
five regional print editions—Northern California, Southern
California, Pacific Northwest, Southwest, and Mountain—as well as
via all tablet devices and its website. In addition to its print
and digital publications, SUNSET showcases the West’s unique
lifestyle and compelling destinations through its flagship events,
established home programs, licensing partnerships, books and
International Wine Competition.
ABOUT REGENT
Regent is a global private equity firm focused on innovating and
transforming businesses. The firm’s mission is to create long-term
value for its partners, the companies it invests in and the
communities in which it works. Regent’s investments span the globe
and operate in a wide array of industry verticals including
technology, media, consumer products, industrial, retail and
entertainment.
Selected investments include Lillian Vernon, Regis Salons,
Supercuts UK and a media portfolio comprised of 18 newspapers,
magazines and television platforms including Military Times, Army
Times, Navy Times, Defense News, PBS TV’s Defense News Weekly,
Federal Times and the HistoryNet Magazines. Regent is based in
Beverly Hills, California.
For more information, please visit www.regentlp.com
ABOUT TIME INC.
Time Inc. is a leading multi-platform consumer media company
that engages over 230 million consumers globally every month.
The Company's influential brands include PEOPLE, TIME, FORTUNE,
SPORTS ILLUSTRATED, INSTYLE, REAL SIMPLE, SOUTHERN LIVING and
TRAVEL + LEISURE, as well as approximately 60 diverse international
brands. Time Inc. offers marketers a differentiated proposition in
the marketplace by combining its powerful brands, trusted content,
audience scale, direct relationships with consumers and unique
first-party data. The company is home to growing media platforms
and extensions, including digital video, OTT, television,
licensing, international markets, paid products and services and
celebrated live events, such as the TIME 100, FORTUNE Most Powerful
Women, PEOPLE’s Sexiest Man Alive, SPORTS ILLUSTRATED’s
Sportsperson of the Year, the ESSENCE Festival and the FOOD &
WINE Classic in Aspen.
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Time Inc.:Jill Davison,
212-522-0105jill.davison@timeinc.comorSUNSET:Dadascope
CommunicationsDana Smith,
510-682-3141dana@dadascope.comorRegent:Graydon Sheinberg,
310-299-4108gs@regentlp.com
Time Inc. (NYSE:TIME)
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