Brewster's Millions.

Folio: The Magazine for Magazine Management, July 1, 2000 by Matthew Schwartz

Virtually overnight, G J loses its sleepy reputation.

One big question front and center for the magazine industry's buzzmeisters: Can Dan Brewster turn things around at Gruner Jahr after taking over in June as president/CEO?

In the same roles at American Express Publishing, Brewster deftly marketed the company's luxe-lifestyle titles to take full advantage of a booming U.S. economy. Corporate earnings at AmEx Publishing rose from $1.4 million in 1994, a year after Brewster took charge, to $28 million last year, according to The Wall Street Journal.

Indeed, all of the magazines under the American Express umbrella--Travel & Leisure, Food & Wine, Departures and T & L Golf--celebrated their biggest June issues ever last month. But the ex-Time Inc. veteran (Time, People, Lift) has an even tougher task ahead of him at G J, which is largely owned by Germany-based media conglomerate Bertelsmann AG. G J has suffered in the last few years from a lackluster reputation, what with no technology or Internet-based titles in the stable. Brewster insists that will change, saying he has the green light for both launches and acquisitions.

"I've been given the absolute commitment by the entire senior management of G J and also [Bertelsmann chief executive] Thomas Middelhoff that they are determined to increase their position in the U.S. magazine market," says Breswter, who began his career as a CNN Congressional correspondent. Fuel for his thoughts: some of the $8 billion Bertelsmann now has in its coffers from the sale of its stake in AOL Europe.

G J is reportedly in the running for Inc., the Bernie Goldhirsch business title now on the auction block.