Vanguarde Media and ZelnickMedia Announce Partnership

Posted on February 28, 2003

Vanguarde Media, Inc. and ZelnickMedia Corporation have announced a strategic partnership aimed at enhancing the growth of Vanguarde's magazine properties and expanding the brands into other media beyond publishing, particularly television. ZelnickMedia founder Strauss Zelnick will join the Board of Directors of Vanguarde Media. ZelnickMedia will also make an investment in Vanguarde.

"Strauss Zelnick enjoys a terrific reputation throughout the media industry," said Vanguarde Chairman and CEO, Keith Clinkscales. "He and his partners have successfully guided both established and emerging media companies. The Zelnick team's track record in publishing, music, film, and television makes this partnership ideal for Vanguarde. I am extremely excited to welcome such experienced and like-minded professionals to the Vanguarde team."

Prior to forming ZelnickMedia, Mr. Zelnick served as CEO of BMG Entertainment. He was previously President and Chief Operating Officer of 20th Century Fox. Mr. Zelnick and Mr. Clinkscales first established a personal friendship and professional relationship when Clinkscales was the President of Vibe Magazine and Zelnick was leading BMG. Zelnick also serves on the Board of Directors of Insignia/ESG and the Carver Bank.

"We are delighted to be in partnership with Vanguarde Media and with Keith Clinkscales, a media entrepreneur whom I have admired for many years," said Zelnick. "We share a common vision for the urban media market. Honey, Savoy, and heart & soul have led their field in advertising and circulation growth. We look forward to helping Vanguarde continue its impressive publishing performance, and also to exploiting opportunities for the company's unique brands and content in television, film and events marketing."

The ZelnickMedia partnership includes Jim Friedlich, most recently a senior publishing executive with The Wall Street Journal, Ben Feder, who served as an Executive Vice President of News Corporation, Karl Slatoff, most recently Vice President of New Media at BMG, and Scott Siegler, ZelnickMedia's Los Angeles-based partner and former President of Sony Tri-Star and Warner Brothers Television. All five ZelnickMedia partners will work actively to support Vanguarde's growth across media.

Vanguarde Media, Inc. (VMI) creates and distributes media for the urban marketplace. The company owns Honey, a fashion and entertainment magazine aimed at stylish urban women, heart & soul, a vibrant living magazine for black women, a nd Savoy, a general interest life and style magazine. VMI also owns and manages the impact! Super Summit, an annual entertainment industry conference. VMI's investors include the Provender Capital Group, LLC and Robert Johnson of Black Entertainment Television.