Colorado Homes & Lifestyles and six other interior design magazines of Wiesner Publishing Group were acquired Monday by Network Communications Inc. in a deal industry insiders valued at more than $20 million.
The acquisition helps position Network Communications, the Lawrenceville, Ga.-based publisher of The Real Estate Book, New Home Finder and other real estate advertising publications, for rapid expansion in the fiercely competitive home and design market, chief executive Dan McCarthy said.
“There is a lot of interest in the particular type of publication,” McCarthy said. “This is a way to make a sizable entrance into the local design marketplace. The Wiesners have done a terrific job of putting together the largest single group of home and design magazines. There is no other publisher who has this many markets.”
The group did not come together quickly enough for Wiesner chief executive Dan Wiesner, though.
The family-owned publisher of Colorado BIZ and six trade magazines acquired Colorado Homes & Lifestyles in 1986 intending to expand to “every attractive market in the country,” Wiesner said. “In 19 years, I got to six. (Network Communications) can get to 20 in two years.”
Wiesner’s home category includes Colorado Homes & Lifestyles, Atlanta Homes & Lifestyles, Seattle Homes & Lifestyles, St. Louis Homes & Lifestyles, Mountain Living, Log & Timber Style and To The Trade.
In the past two years, all seven titles were redesigned, which may have made the group more attractive to Network Communications.
“I wasn’t looking to sell,” Wiesner said. “You try and serve your customers, and things happen.”
The purchase will boost Network Communications’ luxury home and design division revenues to $25 million annually, McCarthy said.
The company hopes to double its luxury home group income to $50 million in three to five years. Network Communications already publishes Unique Homes and Kansas City Homes & Gardens.
McCarthy said the 60 employees working on the acquired Wiesner titles will remain with Network Communications. Magazine operations will not move to Georgia.
Staff writer Dana Coffield can be reached at 303-820-1954 or dcoffield@denverpost.com.
