Freedom sets out on acquisition trail

Folio: The Magazine for Magazine Management, June 15, 1995

Freedom Communications, signaling a commitment to aggressive expansion of its fledgling magazine division, has hired Sam Wolgemuth as president of the group and given him a war chest in the high eight figures for acquisitions and launches over the next few years. Wolgemuth, formerly the president of Simon & Schuster's Business Technical Professional Group and COO of the Reed Travel Group, says Freedom wants to cast as wide a net as possible for additions to its base of magazines (World Trade and U.S./Latin Trade) and directories (USA Exports and FashionSource USA).

"We want to be a major part of Freedom Communications, with strong positions in at least three different market segments in a variety of media," Wolgemuth explains, adding that he possesses a "prejudice in favor of paid-circulation titles." The Irvine, California-based parent company - the 13th largest newspaper chain in the country and owner of the Orange County Register - espouses a decidedly libertarian philosophy in its products. Wolgemuth says new products will be consistent with Freedom's culture by encouraging personal productivity and entrepreneurship.