A privately held media group has acquired the Grand Rapids Business Journal and its parent company.
Troy-based Hour Media Group said today it acquired the assets of Grand Rapids-based Gemini Publications, which is also the parent of the publications Grand Rapids Magazine and Michigan Blue.
John Zwarensteyn, president, publisher and CEO of Gemini since 1979, is leaving to retire and pursue other opportunities.
All three brands will be retained and operate as a subsidiary of Hour Media under the name Gemini Media.
“Gemini Corporation is a great institution with some of the most iconic brands in Michigan, and we look forward to working closely with the Gemini team to make its products and services even better,” said Stefan Wanczyk, chair and CEO of Hour Media Group and Gemini Media. “We believe the future of Gemini’s products has tremendous growth potential.”
John Balardo is the president of Hour Media Group and Gemini Media and will oversee Gemini Media’s day-to-day operations.
“These brands have established a strong presence and earned respect in the West Michigan market, and as with all our regional products around the country, our goal is always to first serve our local markets,” Balardo said.
“We know the brands have already made a strong contribution to the local communities, and we will continue in that tradition.”
Offices and staff will remain at the current location.
Norwalk, Connecticut-based Regional Media Advisors represented Gemini Publications in the transaction.
Founded in 1979, Gemini Publications is “well-regarded for its long-standing business and consumer media products,” which focus on the Grand Rapids and Michigan markets.
The Grand Rapids Business Journal, launched 35 years ago, is the longest continuously operating regional journal in Michigan.
Grand Rapids Magazine, established 46 years ago by the Grand Rapids Area Chamber of Commerce and purchased by Zwarensteyn in 1979, is one of the oldest city/regional magazines in the country.
Michigan Blue, which focuses on waterfront living, recently celebrated its 12th anniversary.
The company also produces several special publications and hosts and sponsors local business and consumer events throughout the year.
Hour Media Group
Founded in 1996, Hour Media Group and its related entities are multi-media companies that publish and produce more than 132 magazines and custom titles, 37 consumer websites and 65 shows and events throughout the U.S.
Its first title was Hour Detroit, and the company has since established or acquired numerous publications: Atlanta Magazine, Cincinnati Magazine, Los Angeles Magazine, Minnesota Monthly, Naples Illustrated, Orange Coast, Palm Beach Illustrated, Pasadena Magazine and Sacramento Magazine.
The company employs more than 300 people at offices in Alabama, California, Florida, Georgia, Michigan, Minnesota, New York and Ohio.