JEGI Represents Journalism Online in Sale to RR Donnelley
Chicago, IL March 23, 2011 – R. R. Donnelley & Sons Company (NASDAQ: RRD) (www.rrdonnelley.com) has acquired Journalism Online, LLC (www.journalismonline.com) and its Press+ offering, which enables publishers to seamlessly integrate an innovative paid content engine with their web sites. Journalism Online’s Press+ system supports publishers as they offer audiences a mix of free and subscription based premium content. Journalism Online is managed by two of the companies’ co-founders and veteran digital media leaders: Steven Brill, founder of The American Lawyer magazine and Court TV; and L. Gordon Crovitz, a former Wall Street Journal publisher.
The Jordan, Edmiston Group, Inc. (www.jegi.com) of New York, NY, the leading independent investment bank for the media, information, marketing services, and technology sectors, represented Journalism Online in this transaction and acted as its exclusive financial advisor.
“Our publishing customers continue to develop multi-channel advertising and editorial strategies, and Press+ provides a valuable tool for monetizing content,” said Thomas J. Quinlan III, RR Donnelley’s President and Chief Executive Officer. “We provide solutions across the entire breadth of the publishing supply chain, from content creation and digital asset management through subscription solicitations, processing and renewals. Press+ enhances our offering and opens new avenues for publishers to generate incremental subscription and advertising revenue.”
Steven Brill said, “We are delighted to bring Journalism Online’s innovative capabilities to RR Donnelley and look forward to engaging with the broad array of consumer and publishers with whom RR Donnelley has relationships. For nearly 150 years, RR Donnelley has been enabling publishers to reach their customers with a viable, cost effective business model. We are excited to be working with them as they continue that tradition and that mission in the digital age.”
The Press+ offering enables publishers to offer readers a mix of options for subscribing to premium content, including metered and mobile/tablet access, enhanced site functionality, out-of-market access and more. The system also provides publishers a variety of ways to engage readers with paid content, such as day or week passes, print/online bundles, monthly or annual subscriptions, and others that even allow readers to receive credit for previous day passes as they select a longer term subscription.
L. Gordon Crovitz stated, “The scalable Press+ model enables publishers to quickly test and implement a variety of content distribution strategies. Our experience demonstrates that publishers using Press+ for metered access to web sites and other digital products retain their online ad revenue and readership while adding a valuable revenue stream from online subscriptions.”
“We continue to engage our customers with integrated communications solutions that address both cost compression and revenue enhancement,” added Quinlan.
About RR Donnelley
RR Donnelley is a global provider of integrated communications. Founded more than 146 years ago, the company works collaboratively with more than 60,000 customers worldwide to develop custom communications solutions that reduce costs, enhance ROI and ensure compliance. Drawing on a range of proprietary and commercially available digital and conventional technologies deployed across four continents, the company employs a suite of leading Internet based capabilities and other resources to provide premedia, printing, logistics and business process outsourcing products and services to leading clients in virtually every private and public sector. For more information and for RR Donnelleye’s Corporate Social Responsibility Report, visit www.rrdonnelley.com.
About The Jordan, Edmiston Group, Inc.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is the leading provider of independent investment banking services for the media, information, marketing services and technology sectors. Since 1987, JEGI has completed more than 500 high profile M&A transactions for global corporations; middlemarket and emerging companies; entrepreneurial owners; and private equity and venture capital firms. For more information, visit www.jegi.com.