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Tuesday, November 2, 2004

Enquirer's owner buys local Inspire magazine


Publication targets affluent customers

By Cliff Peale
Enquirer staff writer

Gannett Co. Inc., owner of the Enquirer, has acquired Cincinnati-based Inspire magazine, the newspaper said Monday.

The deal adds to a collection of specialty publications created or acquired by the Enquirer's custom publishing group during the past year. They include CiN Weekly, founded last fall, and Design magazine, which Gannett bought from Cox Ohio Publishing in July.

The deal will not change management at Inspire, which operates at offices in Over-the-Rhine under publisher Steve Wanamaker. Other terms of the purchase were not disclosed.

Founded in 2002, the lifestyle-themed magazine distributes an estimated 18,000 copies seven times a year. Most of those are mailed free to suburban households with incomes of more than $100,000.

"We target affluent people, people who have discretionary income," said Wanamaker, who would not reveal the sale price or revenues. "They're community oriented. They're health conscious. They love the arts, and they enjoy traveling."

Stories in issues earlier this year included an Indian Hill house on the market for $11.7 million and the Taft Museum of Art reopening.

While Wanamaker would not disclose specific financial performance, he did say Inspire revenue grew 38 percent in 2004, and fourth-quarter revenue was 65 percent more than the same period in 2003.

"Readers are spending more of their time with news and information products that reflect their lifestyles and communities," Enquirer president and publisher Margaret Buchanan said. "Advertisers recognize this and are investing in quality local publications like Inspire."

Wanamaker said the magazine has been profitable since its founding. It will move its offices to 312 Elm St. downtown next summer.

E-mail cpeale@enquirer.com




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