Superheroes do it routinely, but can a comic book publisher save the world? That’s the question behind AK Comics, a company dedicated to producing titles to reflect the “themes and values of the Middle East.”
Since 2004, AK has sold Western-style comics in Egypt, Saudi Arabia, Jordan, Bahrain, the United Kingdom, Greece and China. But its real goal is the U.S. media market. To that end, AK signed a deal earlier this year with Diamond Comics Distributors, the heavyweight firm for moving books to specialty comic book shops around the country.
This month, AK secured $6 million in private equity money to finance its U.S. expansion. Pi Capital, based in Brentwood, handled the deal. AK is headquartered in Cairo, Egypt, but has offices in London and Los Angeles.
“The mission of AK Comics is to fill the cultural and social gap that was created over the years between the East and West by providing essentially needed role models in our case, Middle Eastern superheroes,” says Ayman Kandeel, a former economics professor and chairman of AK Comics. “Those heroes are predestined to become global ambassadors, spreading peace and good will, creating a more optimistic and positive image of the world’s most turbulent and misunderstood region.”
Luckily for retailers, AK’s four debut titles fit nicely into conventional comics segments. “Aya: The Princess of Darkness” follows the Batman model of a child, left parentless by criminals, who becomes a super crimefighter. In “Jalila: Protector of the City of All Faiths,” a teen-age girl gains super powers by surviving a nuclear attack. “Rakan: The Lone Warrior” wanders the deserts of medieval Arabia accompanied by a saber-toothed cat. “Zein: The Last Pharoah” involves an ancient monarch who preserved himself and his evil siblings for a post-modern revivification.
The titles launch in May. If the strategy works, some of the new equity funding will go toward the development of animated and live-action TV programming based on AK characters. According to Kandeel, AK has “uncovered a previously untapped keen interest in Middle Eastern-themed action-adventure entertainment.”
101 Turns 1105
Business-to-business publisher 101 Communications in Chatsworth now belongs to 1105 Media, a new company backed by private equity firms Nautic Partners and Alta Communications in partnership with Neal Vitale, the former publisher of Variety. 1105 Media made the acquisition from Chicago-based private equity firm Frontenac Co. Financial terms were not disclosed.
The deal includes 11 magazines, 19 Web sites, 36 electronic newsletters, plus related conferences and events. 101’s best-known titles include Federal Computer Week, for government contractors; Recharger, for the office document industry; and Campus Technology for the educational market.
The same week as the 101 purchase, 1105 announced the acquisition of Stevens Publishing in Washington, D.C. The company publishes regulatory titles such as Environmental Protection, Occupational Health & Safety, Security Products and Water & Wastewater Products.
Vitale called the Stevens and 101 deals “platform acquisitions” for his company’s long-term strategy. 1105 will concentrate on organic growth in markets where it has a dominant position by extending its brand to new distribution channels.
“If we are in a market with print and online, then we’ll add events, or if we have events and online, we’ll add print,” Vitale said. In addition to cross-media expansion, 1105 will continue to pursue acquisitions.
Vitale confirmed the company’s headquarters would remain in Chatsworth. Before becoming chief executive of 1105 Media, he served as president of Aspen Marketing Group, president of The Petersen Cos., and group vice president at Reed Elsevier.
Razorfish Sharp
A preview of an upcoming list shows Avenue A/Razorfish ranks as the largest interactive marketing agency in the country. The company recently expanded its Los Angeles offices to handle the increased work.
The agency had 2005 interactive revenues of $190 million, according to a preview of Advertising Age’s list of top interactive agencies, to be published May 1. The 2005 money figure represents a 37 percent increase over Razorfish’s previous year performance.
Based in Seattle, the agency has a sizeable and growing L.A. presence. This month the company announced it will more than triple its office space by leasing 10,000 square feet in the Howard Hughes Center near LAX.
“We expect continued growth here through current and new business, and in 2006 to double our staff,” said Colin Kinsella, general manager of Avenue A/Razorfish’s San Francisco and Los Angeles offices. Currently the company has about 40 employees in the Los Angeles operation.
Clients serviced through the L.A. office include Red Bull, Toyota Financial and Sony.
This & That
Emmis Communications, owner of local stations KPWR-FM (105.9) and KZLA-FM (93.9) as well as Los Angeles and Tu Ciudad magazines, reported its revenues grew 10 percent to $387 million in fiscal 2006, which ended in February. However, KDP Investment Advisors said the company missed its estimates “due to challenging market conditions in Los Angeles and New York City” markets. Emmis predicted sales at its radio stations would show a percentage decline in the mid-single digits during the first quarter of fiscal 2007, which ends in May. The company’s stock trades in the $13.20 range, more than 30 percent lower than at the beginning of 2006.
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Media deals often consist of New York money and L.A. creativity. Triton Pacific Capital Partners has turned the coastal tables by backing a management buyout at Media Syndication Global, a New York-based direct marketing firm. The company specializes in marketing through credit card statements, catalogs, and direct response TV. Los Angeles-based Triton Pacific handles equity financing for small to mid-sized private companies.
Staff reporter Joel Russell can be reached at (323) 549-5225, ext. 237, or at
[email protected]
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