SPH Magazines buys Sterne & Lears' FiRST - Aug 19, 2005 (BT)
The Straits Times / The Business Times News On SPH
SPH Magazines buys Sterne & Lears' FiRST
By Nande Khin
Aug 19, 2005
The Business Times
SPH Magazines' growing stable of magazines is soon to be augmented by FiRST Movie Magazine from Sterne & Lears.
SPH Magazines - a wholly-owned subsidiary of Singapore Press Holdings (SPH) - said yesterday that it has entered into an agreement with Sterne & Lears to buy the business, the magazine title, and all the intellectual property rights connected with FiRST.
FiRST was launched in November 2002 and covers various aspects of the movie industry, such as film previews and reviews, celebrity features as well as fashion, trends and technology related to the movies.
Said SPH Magazines' CEO David Tay, 'FiRST Movie Magazine has incredible potential. Drawing from our strengths and capabilities can only make it even stronger. Joining forces is definitely a win-win situation for both parties.'
Mr Tay added that FiRST's content - which is focused and has a universal appeal that cuts across age, gender and country - fits in with SPH Magazines' aim to take the magazine regional.
FiRST editor-in-chief Royston Loh, who is - along with the rest of his team - staying on with the magazine, said that he is confident that FiRST will 'reach new heights under SPH Magazines' as the latter has strong expertise, a wide network and reliable infrastructure.
'This will translate to greater awareness and visibility of the magazine to bring maximum benefits and exposure to our advertisers,' said Mr Loh.