Fandom Sells Creation Entertainment

Posted on April 6, 2001

Debra Streicker-Fine, CEO of Fandom Inc., an entertainment media company for fantasy, horror and science fiction fans, announced that one of its offline properties, Creation Entertainment -- a producer of conventions, merchandise, and clubs for fans of selected television series and films -- has been acquired by the partnership of Gary Berman and Adam Malin for a seven-figure sum. The acquisition comes after news earlier this week that Fandom, Inc. was shutting down its online operations and cutting approximately 20 of its 100 employees.

Fandom purchased Creation in November 2000. Company founders, Berman and Malin operated the company as co-presidents under Streicker-Fine, who was named CEO in January 2001. Fandom acquired Creation Entertainment to build on its multimedia network of companies servicing a fan constituency with magazines, online content, merchandise and related services. The month prior, Fandom had acquired Cinescape, which publishes Cinescape Magazine, an action/adventure/science fiction magazine focusing on film, television and new media.

Streicker-Fine said, ``We are pleased that Creation Entertainment has been acquired by Gary and Adam, and are confident that Creation will continue to thrive as a stand-alone company. Doubtlessly, other investors and potential strategic partners will recognize its value as one of the best-established conduits to the fan community. The continuing, profitable operations of our offline companies proves the commercial viability of the fan-driven space; unfortunately, adverse market conditions cut our company development short before we could reach our potential.''

Berman and Malin said of the company's transition, ``The transactions with Fandom have not hurt us financially; in fact, we're operating as we always have and expect this to be our most profitable year yet. Having said this, we are still interested in teaming up with another partner that brings the depth and strategic alliances we need to take Creation to the next level.''