purchased 20 per cent stake in New York-based Sx2 Media Labs LLC, a new company formed by David Sills and Stoneybrook Capital. The transaction is effective immediately.
Sx2 Media Labs LLC has recently taken over the 26 year old print publication Computer Shopper magazine, which serves as a monthly guide to new technology and shopping guide for more than 300 products per issue on information technology and related items.
With a circulation of more than 450,000 copies, the Computer Shopper Magazine, 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.
This year in February, Sx2 Media Labs acquired part of CNET's publishing business portfolio which includes Computer Shopper, CNET Digital Living, College Buying Guide, Computershopper.com and custom publishing. These together generated revenues in excess of US $19 million during the fiscal year which ended December 2004.
Speaking on the occasion, Pradeep Gupta, chairman and managing director, CyberMedia said, "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."
Through an official communiqué, Barry Schwimmer, Chairman of SX2 Media Labs, says, "The investment by CyberMedia, which is South Asia's leading specialty media house, in our venture will take Computer Shopper to the next level. "
He adds, "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."
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