September 8, 2017
This press release was released by Plus Magazine.
September 7 — Los Angeles and NYC — Here Publishing, the most established, prestigious, and award-winning lifestyle media brands serving the LGBT market, today announced it has been acquired by a consortium of management from its various publications and Oreva Capital, the investment firm led by entrepreneur Adam Levin.
The properties that transferred ownership include Out, The Advocate, Pride, Plus, Out Traveler, LGBT.com and a portfolio of intellectual property. Taken together, the Here properties will now be rebranded as Pride Media Inc.
The newly formed Pride Media has a reach of over 10 million people across its entire footprint. The print and tablet editions reach 2.4 million (includes pass along), and owned digital properties generate 5.2 million unique visitors, making it the single largest publisher serving the LGBT community, according to Comscore. That reach is amplified by a multi-platform social following at 2.4 million and growing.
The leaders inside of Here Publishing have taken an equity stake and will remain in their current roles for the foreseeable future. Management worked with Oreva Capital, the investment firm owned by Adam Levin, to secure controlling ownership. “There is no better bet in media or advertising these days than on passionate, connected communities,” said Levin. “We are excited and feel extremely honored to have the opportunity to work with brands such as The Advocate, Out and Pride and realize their next phase of growth,” said Levin, who will represent Oreva on the board of directors. Levin became the acting CEO of High Times magazine and the Cannabis Cup after leading a consortium acquisition of the leading cannabis brand earlier in the year.