SUNSET a subsidiary of Time Inc. has been sold to Regent, L.P.
New York (November 30, 2017)—Oaklins DeSilva+Phillips’ client, Time Inc. (NYSE: TIME) today announced the sale of SUNSET to Regent L.P., a Los Angeles–based private equity firm led by investor Michael Reinstein. Based in Oakland, California, SUNSET is the defining lifestyle brand of the modern American West, with coverage that includes travel, food, wine, home and garden across its monthly print publication, digital and social platforms, books, events and experiences. The storied brand, which was founded in 1898, has been a forum for literary giants like Jack London, Dashiell Hammett and Sinclair Lewis, a showcase for transformational architecture and design, and a launching pad for the modern environmental movement through its early affiliation with conservationist and Sierra Club founder John Muir.
“As a native Californian, I am honored to take the mantle as the fourth owner of this iconic and beloved institution. For almost 120 years SUNSET has been the definitive, pioneering voice of the promise, hope, values and innovative spirit of the West,” said Michael Reinstein, Chairman, Regent L.P. “We are excited to partner with SUNSET’s talented Editor-in-Chief Irene Edwards and her accomplished team to ensure that SUNSET continues to thrive for generations to come.”
“We’re pleased to have found such a passionate buyer in Michael Reinstein and Regent. For 27 years, we’ve expanded SUNSET’s influence and reach as the defining lifestyle brand of the modern American West serving an audience of 6.5 million across platforms. Now, under the new ownership team led by Michael Reinstein, SUNSET will have the opportunity to reach new heights. We thank the SUNSET team for their talented work, tireless commitment and passion,” said Rich Battista, President and CEO, Time Inc.
SUNSET reaches an audience of more than 6.5 million across its digital, print and social platforms. Its flagship events include the annual Celebration Weekend, which debuted in 1998 and has drawn hundreds of thousands of attendees with celebrity chefs, garden tours, wine seminars and stand-alone experiences, such as the SUNSET Smart Cottage; the SUNSET Idea House program, which will debut its Palm Springs Idea House at the Modernism Week design festival in February; Camp SUNSET, a summer camp-inspired workshop series taught by SUNSET editors that will launch to consumers in 2018; and the SUNSET International Wine Competition, one of the most successful wine competitions launched in US history.
SUNSET (http://www.sunset.com) is the defining lifestyle brand of the modern American West. Through magazines and books, events and experiences, and digital and social media, the iconic 120-year-old brand covers the region’s top destinations, food and wine experiences, home and garden trends, and personalities. SUNSET engages and inspires an audience of more than 6.5 million educated, active and affluent consumers every month through its five regional print editions—Northern California, Southern California, Pacific Northwest, Southwest, and Mountain—as well as via all tablet devices and its website. In addition to its print and digital publications, SUNSET showcases the West’s unique lifestyle and compelling destinations through its flagship events, established home programs, licensing partnerships, books and International Wine Competition.
Regent is a global private equity firm focused on innovating and transforming businesses. The firm’s mission is to create long-term value for its partners, the companies it invests in and the communities in which it works. Regent’s investments span the globe and operate in a wide array of industry verticals including technology, media, consumer products, industrial, retail and entertainment.
Selected investments include Lillian Vernon, Regis Salons, Supercuts UK and a media portfolio comprised of 18 newspapers, magazines and television platforms including Military Times, Army Times, Navy Times, Defense News, PBS TV’s Defense News Weekly, Federal Times and the HistoryNet Magazines. Regent is based in Beverly Hills, California.
For more information, please visit www.regentlp.com
ABOUT TIME INC.
Time Inc. is a leading multi-platform consumer media company that engages over 230 million consumers globally every month. The Company’s influential brands include PEOPLE, TIME, FORTUNE, SPORTS ILLUSTRATED, INSTYLE, REAL SIMPLE, SOUTHERN LIVING and TRAVEL + LEISURE, as well as approximately 60 diverse international brands. Time Inc. offers marketers a differentiated proposition in the marketplace by combining its powerful brands, trusted content, audience scale, direct relationships with consumers and unique first-party data. The company is home to growing media platforms and extensions, including digital video, OTT, television, licensing, international markets, paid products and services and celebrated live events, such as the TIME 100, FORTUNE Most Powerful Women, PEOPLE’s Sexiest Man Alive, SPORTS ILLUSTRATED’s Sportsperson of the Year, the ESSENCE Festival and the FOOD & WINE Classic in Aspen.
|Transaction Type||M&A Sell-side|
|Client||SUNSET a subsidiary of Time, Inc.|
|Sold to||Regent, L.P.|