New Life at JPG and 8020 MediaMarch 1, 2009
JPG and 8020 media received a new lease on life. Mitch Fox the outgoing President and CEO of the company announced the sale of 8020 Media in a e-mail to all friends of JPG earlier today. Fox said
After a hectic 47 days, hundreds, maybe thousands, of emails and countless hours on the phone and in meetings, I am delighted to report that the assets of 8020 Publishing, LLC have been acquired by 8020 Media, Inc., a new company formed by a group of private investors, represented by Brandon Calder, for the purpose of executing on the unique vision that led to the creation of JPG Magazine, jpgmag.com and everywheremag.com. We are also pleased to announce that Adorama Camera Inc., a renowned leader in photography has reached a multi-year agreement to be JPG’s Premier Community Partner and will also become minority owner of the new company.
In this difficult economic climate, business transactions take patience, finesse, intelligence and imagination, and we were lucky enough to find all these qualities in the unique group that brought this deal together. Above all, the new owners are able to see the immense promise that these properties hold to re-invent the media model and truly put the voice of the medium in the hands of its community.
Fox’s role at the company is also changing. He wrote,
My role, too, is changing, as I am handing the reins of the company over to my colleague, Mr. Seth Familian, who will become President and CEO of 8020 Media, Inc. As the key driver behind our digital innovation for the past year, Seth has proven to be an exceptionally capable new media leader.