F+W Media Acquires New Track Media
Posted on January 20, 2014F+W Media has announced the acquisition of New Track Media, a publisher of arts and crafts magazines and a leading astronomy title. Some of New Track Media's titles include American Woodworker, Creating Keepsakes, Quilter's Home and Sew News. New Track also publishes Sky & Telescope.
David Nussbaum, chairman and ceo of F+W, says in a statement, "The New Track strategy closely mirrors that of F+W Media. From a two-dimensional publisher, to a multi-channel content and commerce company. The team has had good success building their digital media and direct-to-consumer ecommerce offerings; we'll immediately focus on taking those businesses to the next level."
F+W says the New Track acquisition will also add a direct-to-consumer catalog businesses with more than 12 million members and revenues in the tens of millions. F+W has closed three craft-related acquisitions in the past 18 months. These include Interweave, Martha Pullen Company and Love Sewing.
Folio reports that F+W tells them there are no plans in place to close any of the publications after the acquisition closes.