Forbes And Wpp Group Form Custom Publishing Joint Venture

Business Publisher, April 30, 2001

Forbes Magazine Group (New York) and WPP Group (New York), a communciations services group and parent of such companies as J. Walter Thompson, Ogilvy, MindShare, Research International and Media Edge, have entered into a joint venture to establish a new custom publishing group. The venture will provide custom communications, including magazines, newsletters, e-publishing, Web sites, guides, directories, annual reports and related information for clients of WPP units.

Forbes said the new venture, Custom Media Group, will include Forbes' current Custom Communications Partners unit and will provide services for all aspects of the publishing process, including advertising sales, circulation and distribution, design, editorial, print production and Internet communciations. Forbes Magazine Group president Jim Berrien said the deal "allows us to accelerate our growth strategy for Forbes Custom."

WPP Group ceo Sir Martin Sorrell said the partnership "acknowledge's the increased importance that targeted custom publishing plays in business strategy today."