High-End Publisher CurtCo Hasn’t Found A Big-Bucks Buyer

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CurtCo Media’s just-launched Robb Report Luxury Hotels, an annual publication from the editors of Robb Report magazine, has named Beverly Hills’ Peninsula Hotel as one of the world’s most exclusive city escapes.

The Peninsula is one of only 22 U.S.-based hotels to make the exclusive list, and one of only three in California. The other two are the Ritz-Carlton in San Francisco and San Diego’s La Valencia.


The report includes 100 hotels spanning 42 countries on six continents. The collection of properties listed ranges from historic properties in Europe to contemporary boutiques in Asia.


Founded by Bill Curtis in 2001, CurtCo’s publications target the “recession-proof” reader market the fewer than one million American families that have a net worth of $5 million-plus to spend on luxury goods and services.


And the group of publications itself is on the block, too: Curtis announced this spring that his publishing empire is up for sale, and at a price only his readers may be able to afford a whopping $500 million.


Over the past four and a half years, the company’s portfolio has grown to include 14 luxury magazine titles. Among the titles are Robb Report Magazine, Worth Magazine, ShowBoats International, Home Entertainment, Vacation Homes, Sarasota Magazine, and San Diego Magazine.


This spring, the company purchased Art & Antiques, a 105,000-circulation magazine, for a reported $7 million.


The publishing company has grown its revenue from about $20 million to $100 million over the last four years. In 2003, the company secured $100 million in acquisition capital from private equity firms Weston Presidio and TD Capital.



Runaway Remedy?


Effective last week, filming fees will be waived at most city facilities in Los Angeles, thanks to a long-awaited waiver ordinance that allows production companies to use city-owned facilities such as City Hall, libraries and fire department buildings, free of charge when filming.


Mayor Antonio Villaraigosa last week made the announcement, one city officials are hoping will help provide incentives for production companies to film and produce their work in Los Angeles.


“Los Angeles is the entertainment capital of the world,” said Villaraigosa. “We can no longer afford to lose our signature industry to other cities. The film industry is not just about glamour, it’s about good-paying jobs and billions of dollars to our local economy.”



First Look’s Books


An arbitrator has ruled that L.A.-based independent production company First Look Media Inc. can continue distributing Ultimate Fighting Championship DVD titles from Las Vegas-based Zuffa LLC., according to both companies.


Zuffa, however, has been granted the right to audit First Look’s books for financial improprieties.


Zuffa, the parent company of Ultimate Fighting Productions, had licensed its Ultimate Fighting Championship titles for distribution through Ventura Home Entertainment.


First Look, traded on the pink sheets, ended up with the UFC deal when it acquired the assets of Ventura Home Entertainment (bought out from bankruptcy this spring) for about $17 million. Zuffa began investigating the financially troubled Ventura for alleged accounting violations, and has alleged financial improprieties on Ventura’s part including charging unauthorized distribution fees and hiding rebates.


The two companies have been in arbitration for months. The arbitrator’s decision grants First Look the right to distribute Zuffa’s UFC Fighting Championship DVDs for the next three and a half years.


Zuffa earlier this month filed a copyright infringement and fraud suit in Las Vegas against all parties relating to Ventura, including First Look.


This isn’t the only dispute related to unhappy past Ventura partners Showtime Networks filed a $7 million breach of contract suit against Ventura in March for alleged nonpayment on distributed titles.



Staff reporter Anne Riley-Katz can be reached at

[email protected]

or at (323) 549-5225, ext. 325.

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