San Francisco Publisher Acquires Newspaper Industry Newsletter

Posted on August 1, 1997

David M. Cole, the proprietor of The Cole Group, a publishing and consulting business that started The Cole Papers in 1989, announced that he has acquired NewsInc. from Cowles.

"I believe strongly in the newspaper business and I believe strongly in NewsInc.," said Cole. "As both a slick magazine and a newsletter, NewsInc. has provided insight into the newspaper industry for more than eight years. I feel honored that Cowles would accept my offer to publish the newsletter in the future."

Cowles Business Media publishes a variety of newsletters and magazines and is a division of the Minneapolis-based Cowles Media Co., a diversified media company that also publishes newspapers and consumer magazines. The transaction was handled by the New York-based investment banking firm of DeSilva & Phillips Inc.; terms were not disclosed.

NewsInc. was founded in 1989 as a slick semi-monthly magazine by Gary Hoenig and Jack Berkowitz. Hoenig, a former newspaper editor, aligned with Berkowitz, a magazine publishing consultant, to create a publication about the business of newspapers. In 1993 the magazine ceased publication, and Hoenig and Berkowitz sold the nameplate to Simba Business Information, which published NewsInc. as a 24-times-a-year newsletter. Simba was acquired by Cowles in 1995.

The new owner of NewsInc. said that his operation was uniquely qualified to run the newsletter. "The staff and I have almost 150 years of daily newspaper experience among us," said Cole. "We live newspapers and breathe newspapers. Speaking for myself, I believe my entire career has been pointed toward publishing NewsInc."

The Cole Group is affiliated with Seybold Seminars, a division of Softbank Expos; the Seybold/Cole Newspaper & New Media Seminar will be held Sept. 30 in San Francisco in conjunction with Seybold San Francisco.



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