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BREAKING NEWS & VIEWS
Zinio Exploring Strategic OptionsWednesday, June 27, 2012 One of the oldest names in the digital magazine space and among the top grossing distributors of content into the app ecosystem is exploring a  sale or other strategic option. Zinio, owned principally by Fiji Water founder and hotel owner David Gilmour has enlisted investment bank Montgomery & Co. to look for a buyer, according to a report in CNNMoney.com.The report contends the company is looking for a price of $50 to $100 million. Zinio's global executive vp and cmo Jeanniey Mullen issued a statement to minonline confirming that the company was working with Montgomery & Co on strategic options, although it did not say specifically the company was for sale. According to Zinio, "Committed to growing the company, we have retained Montgomery & Co to facilitate capital raising strategies and discussions. While the company has been engaged in similar discussions in the past, Zinio has never had a stronger vision, strategy and roadmap to engage the right set of potential partners." Gilmour bought out Zinio’s early VC investors in the mid 2000s and invested in its growth at a time when support for a desktop-bound digital magazine format was uneven at best, especially among consumer magazines. Zinio had always looked towards the prospect of device-based digital editions. It was an early partner of manufacturers of the original Tablet PC based on Microsoft’s OS. Zinio and sample titles were bundled with a number of these first failed attempts at tablet computing. While most Zinio versions are minimally enhanced digitizations of print issues, the company invested in its own women’s service book VIVmag. This title became a showcase for the ways in which multimedia enhancements and interactivity could amplify a magazine experience. With the arrival of the iPhone and especially the iPad, Zinio and other digital magazine platforms in the space seemed to find the device the format had been waiting for all along. Working as a newsstand for multiple magazine partners, the Zinio app continues to be among the top grossing apps in the Apple App Store. The company works with scores of titles both consumer and b2b. If you have breaking news to share please contact min’s editors.
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