Condé Nast, Hearst Joint-Venture PubWorx Acquires ProCirc
PubWorx, a joint-venture between Condé Nast and Hearst Magazines, has acquired ProCirc, a circulation outsourcing company. Terms of the deal were not disclosed.
Last February, Condé and Hearst joined forces to form PubWorx, a company that manages production, procurement and circulation for both publishers, and offer custom programs across the industry for third parties.
The acquisition of ProCirc will give the group flexibility and more customizable solutions for PubWorx clients. President and chief executive officer Marc Passarelli and president and co-founder Cary Zel will continue in their current roles at ProCirc.
According to Condé Nast, the partnership “provides clients with access to state-of-the art capabilities across all aspects of consumer marketing, circulation management, procurement and production services.”
“ProCirc is a company we have long admired for its strategic, analytical approach to circulation management,” PubWorx ceo Al Perruzza said Tuesday. “Both PubWorx and ProCirc have strong industry and supply-base relationships, and together, we can provide even more personalized service to a broader range of clients, amplifying our ability to quickly deliver bottom line results for their businesses.”
“As a joint venture between Hearst and Condé Nast, PubWorx has unrivaled scale and expertise, which will augment our turn-key approach to subscription and retail marketing,” offered Passarelli. “Our companies have the imagination and the resources to drive innovation and execute operational efficiencies, maximizing value for our clients.”
ProCirc will continue as an independent division of PubWorx, which is run out of Condé Nast’s headquarters at One World Trade Center.
PubWorx isn’t the first time Hearst and Condé have worked together; the two magazine publishers formed Comag, a marketing and retail distribution company, nearly 40 years ago. The U.S. branch of Comag was sold in 2012, but Hearst and Condé Nast still own and operate the U.K. division together.
Hearst Newspapers and Advance Publications, parent company of Condé Nast, have also worked together on procurement for many years.
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