FOR IMMEDIATE RELEASE
Contact: Mia Carbonell
Rodale
212-808-1472
Josephine Parr
Runner's World
212-808-1358
Carol Lasseter-Rice
Running Times
203-761-1113 ext. 11
Rodale Announces Acquisition of Running Times
NEW YORK, FEBRUARY 26, 2007 -- Rodale Inc., the authoritative source for
trusted content in health and wellness worldwide, announced today the
acquisition of Running Times magazine and runningtimes.com branded media
properties, from Fitness Publishing, Inc. based in Wilton, CT. The terms of
the transaction were not disclosed.
"This acquisition creates the largest multi-media platform for runners and
further strengthens Rodale's leadership position in the rapidly growing
running marketplace," said Steve Murphy, President and CEO of Rodale.
"Runner's World has experienced tremendous growth over the past few years
by providing relevant content for both the serious and more casual fitness
runner in the magazine and on runnerswold.com. With this acquisition, we
will further expand our reach in both print and online to serve the
audience of highly dedicated and competitive runners and offer this
expanded audience to advertisers who look to Rodale to reach consumers
interested in health and fitness."
Running Times, founded in 1977, currently has a rate base of more than
105,000 and a readership of more than 400,000. Running Times advertising
revenues increased 38% in 2006, with pages rising by 24%. Running Times
circulation has increased 117% since 1998. The magazine covers the racing
culture, explores the science and health effects of training and the
training philosophies and practices of top athletes and coaches, provides
race reports and results, rates and profiles elite runners and provides
stories and commentary that reflect the dedicated runner's world view. Its
online property, runningtimes.com, provides an extensive database of races
and other relevant information.
Running Times and runningtimes.com will continue to operate under the
Running Times brand, and will be independent of the Runner's World and
runnersworld.com brands. Runner's World and Running Times, however, will
combine their respective databases of race events to provide a single
source for racers.
Rodale will bring additional resources to the Running Times editorial and
design teams, as well as its experience in producing successful,
award-winning magazines.
"This is a terrific opportunity for Running Times and the dedicated running
community," said Carol Lasseter-Rice, publisher of Running Times. "Rodale
brings added investment, a wealth of publishing experience and a
longstanding allegiance to the running community."
Runner's World will continue to be co-led by Andy Hersam, vice president
and publisher, and David Willey, vice president and editor-in-chief. Carol
Lasseter-Rice will remain publisher of Running Times during a transition
period and will report to Hersam. Jonathan Beverly will remain as
editor-in-chief of Running Times and will report to Willey.
"We are very enthusiastic about the running marketplace," added Murphy.
"2006 was Runner's World's best year ever. The running community continues
to grow, as more women participate and the sport gains popularity
internationally. With running's biggest stage - the Olympics - slated for
2008, Rodale through Runner's World and Running Times is uniquely
positioned as the definitive source of information for runners and fans of
running."
Runner's World finished 2006 with its fifth consecutive record year, up 6%
in ad pages and 14.8% in revenue. The title also added 91 new advertisers,
including American Express, Infiniti, Toyota Prius, The North Face, BP
British Petroleum, Pentax, Eddie Bauer, Timberland, Fila, Ecco, Columbia
and Keen, and broke 700 ad pages. The title raised its rate base for the
eleventh straight year in January to 630,000, and in 2006 received its
third National Magazine Award nomination in the past two years with a
nomination for General Excellence (among titles with 500,000 to 1 million
circulation). Runner's World also was on Adweek's Hot List in 2004 and
2005, and in 2005 won the Adweek "Creative Team of the Year" and was on Ad
Age's "A List." In February 2006, Runner's World launched a new
international edition in Italy, in partnership with Edisport Editoriale,
bringing its worldwide reach to nine editions in 11 countries.
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