Cyber Media (India) Ltd has announced its acquisition of 20 per cent stake in Sx2 Media Labs LLC, a new company formed by David Sills and Stoneybrook Capital, which has recently taken over Computer Shopper magazine, a 26-year-old print publication that serves as a monthly guide to new technology and shopping guide for more than 300 products per issue on IT and related items. The transaction is effective immediately.
Earlier in February 2006, New York-based Sx2 Media Labs acquired part of CNET’s publishing business portfolio comprising Computer Shopper, CNET Digital Living, College Buying Guide, Computershopper.com and custom publishing that together generated revenues in excess of $19 million during fiscal year ended December 2004.
The Computer Shopper magazine, with a circulation in excess of 450,000, enjoys a strong competitive positioning amongst the top three B2C computer magazines. Computer Shopper has been ranked No. 1 in the “Considerable Advertising Interest” study by MRI Fall, 2005.
Said Pradeep Gupta, Chairman and Managing Director, CyberMedia, “CyberMedia’s strategic investment in Sx2 Media Labs is aimed at leveraging its 23-year IT and Telecom publishing experience to partner with Sx2 Media Labs in growing Computer Shopper and its allied brands, College Buying Guide, CNET Digital Living and Computershopper.com, over all types of media delivery vehicles. We are excited to be part of Sx2 Media Labs journey into the future with the brand history loaded, Computer Shopper magazine.”
“We’re excited about partnering with CyberMedia, South Asia’s leading specialty media house, in our venture to take Computer Shopper to the next level,” said Barry Schwimmer, Chairman of SX2 Media Labs. “The Sx2 Media Labs and CyberMedia partnership will create value in infusing new life-force to Computer Shopper, a magazine that has impressed the market with its enduring popularity with its readers, thanks to the efforts of its top-notch editorial staff.”