Greenspun Media builds luxury magazine team

Tuesday, June 26, 2007 | 7:18 a.m.

Las Vegas Sun

Vegas Magazine has established a stronghold in the luxury publication niche in the valley, and now its publisher, Greenspun Media Group, is expanding to other high-end hot spots with a new strategic partnership with two other lifestyle magazine brands.

Greenspun is joining Ocean Drive Media Group and Niche Media Holdings, combining under the Niche Media name. The three companies, which announced their partnership on Monday, will publish 16 posh lifestyle magazines that cater to wealthy readers in America's richest cities. The publications include Greenspun's City Center, Venetian Style, Wynn and Vegas Magazine. Among Ocean Drive's publications are English - and Spanish -language magazines bearing the Ocean Drive name and Niche's titles includ ing Gotham, L.A. Confidential and Boston Common.

"We think it's good from our side because it allows us entree into the luxury market in cities that are very important to Las Vegas," said Brian Greenspun, chairman of The Greenspun Corporation and of the new Niche Media.

With distribution of 750,000 copies and more than 4.4 million readers each month, the new Niche Media will be the largest network of city-specific luxury publications in the country.

The strategic partnership "completely aligns our interests and gives us the ability to provide this type of publication in the best cities in the country, with more to come," Greenspun said.

Greenspun is also editor of the Las Vegas Sun, which is owned by the Greenspun family.

Jerry Powers, of Ocean Drive Media Group, created Ocean Drive Magazine with Niche's Jason Binn 15 years ago.

Four years ago Powers and Greenspun Media launched Vegas Magazine.

And late last year Niche and Greenspun Media announced their own strategic partnership.

"Now the three of us, with (Greenspun Media Group President) Michael Carr are going to take advantage of all our years in publishing history to do something very extraordinary," Powers said. "Between all the books it's remarkable - it's 24,000 pages a year currently, (reaching) very high net worth people, people who have a lot of leisure time - the ultimate consumers - who buy great cars and great watches, have great hobbies, people who go out to eat and fly in private jets.

Ads in Niche publications will be sold both locally and nationally, allowing advertisers to reach readers in the publishing group's cities from coast to coast.

Niche also hosts more than 500 A-list parties and other luxury-themed events each year across the country.

Niche advertisers are assured through readership analysis that the majority of subscribers make at least $250,000 a year, own homes valued at more than $1 million and have liquid assets greater than $1 million.

"We've obviously created a stronger alliance with advertisers," Binn said. Although all three companies have always been strategic in the approach to content, rooting the magazines in their communities, "what we've done is leverage the resources of all three companies under one umbrella," Binn said.

He added that the company plans to continue the growth Greenspun, Niche and Ocean Drive have achieved since their inceptions. Niche Media employs 300 people, and Binn said he plans to hire at least 50 more soon.