Yankee Publishing Inc. Acquires McLean Communications
FOR IMMEDIATE RELEASE
Yankee Publishing, Inc.
(603) 563-8111 X180
(603) 644-3200, X16 or (603) 315-4426
DUBLIN, NH (January 4, 2013)—Yankee Publishing, Inc. (YPI) announced that it has acquired the assets of McLean Communications, which publishes New Hampshire Magazine, New Hampshire Business Review, Parenting New Hampshire, New Hampshire Home, and a variety of custom publications. McLean will operate as a wholly-owned subsidiary of YPI and will remain in its current headquarters in Manchester, New Hampshire. YPI now employs a staff of 82 people. The transaction closed on Friday, December 28, 2012.
YPI, an independent media company based in Dublin, New Hampshire, publishes Yankee Magazine, The Old Farmer’s Almanac, and numerous ancillary products. YPI currently produces The Official New Hampshire Visitors’ Guide for New Hampshire’s Division of Travel and Tourism Development. This winter, YPI launched its newest special interest publication, New Hampshire Ski & Snow Magazine, available for free at sports and outdoor retailer locations and at New Hampshire Welcome Centers.
McLean custom publishes Celebrate New Hampshire for the NH Liquor Commission and annual publications for the Manchester and Nashua Chambers of Commerce. Additionally, McLean produces approximately 20 events annually, including Best of New Hampshire, Best of Business (BOB’s), Business Excellence Awards, The Family Fun Fair, and the New Hampshire Home Lecture Series.
Sharron McCarthy, who has been McLean’s president and publisher for 18 years, put together a short list of companies she wanted to approach after she learned McLean’s parent company, Independent Publications Inc., a Pennsylvania-based family run business, planned to sell.
“Yankee Publishing was my first choice,” says McCarthy. “We are both New Hampshire-based publishing businesses. We share similar business philosophies, ethics and management styles. And we truly value our employees and strive to support our community. It’s a natural fit. We’re delighted to be part of a 77-year old family-owned and -operated company.”
“I am excited about the opportunities this will bring to both YPI and McLean,” says Jamie Trowbridge, President of YPI and grandson of founder Robb Sagendorph. “For many years I have admired the way McLean has grown its business in New Hampshire. McLean and Yankee are compatible in that both businesses involve regional magazine publishing in New Hampshire. And McLean and YPI are complementary in that they have different business models and different strengths,” says Trowbridge.
Combining the businesses will allow both to meet the challenges they face as publishers. YPI generates most of its revenue through subscriptions and single copy sales. The Old Farmer’s Almanac’s distribution in the U.S. and Canada is four million copies, and Yankee Magazine has 300,000 subscribers. Conversely, McLean generates most of its revenue through advertising sales.
“Each business can benefit from the knowledge and skills of the other,” says Trowbridge. “What is exciting about this is that our individual strengths as companies will create an even stronger collective business arrangement. Diversifying our products and taking a creative approach to the publishing world—both in print and online—will continue to provide the footing for our media brands. It’s an exciting time as we learn from each other and broaden our horizons, both within New Hampshire and beyond.”
Terms of the sale were not disclosed. Regional Media Advisors acted as advisor to McLean Communications in this transaction.