Palm Beach Media Group, a subsidiary of Detroit-based publisher Hour Media, has acquired Florida Design. The title will be added to Hour Media's portfolio of 140 magazines and custom publications, including Atlanta, Cincinnati and Los Angeles. The terms of the deal were not disclosed, but the acquisition is in line with Hour Media’s recent purchases; according to Folio, the media company has been on a “regional magazine shopping spree” since 2016
“Florida Design is a recognized leader in the design category,” said John Balardo, president of Palm Beach Media Group and its parent company Hour Media, in a statement. “This acquisition represents an ideal complement to our current lifestyle and custom publications for the Florida market and our broader national footprint.”
The move, which was formally announced today, saves the magazine one month after it was reportedly shuttered; its staff was told that the magazine would no longer be published and were quietly let go in early June. Published out of Boca Raton, Florida Design also published local editions for the Naples, Palm Beach and Miami markets. The new owners are said to be interested in continuing the offshoot publications, with the exception of the Palm Beach edition, which would compete with Palm Beach Illustrated in its portfolio.
Hour Media is reported to be making an effort to rehire much of the Florida Design staff and will focus on expanding the brand’s digital reach.
“I felt Hour Media was the best suitor to ensure the magazine’s ongoing success. I am pleased to leave Florida Design in such capable hands,” said Jeff Lichtenstein, the outgoing president of Florida Design, in a statement. “Hour Media is committed to growing the magazines and has an excellent team.”