SOURCE: WallerSutton 2000

November 21, 2005 15:49 ET

WallerSutton 2000 and Sandler Capital Management Announce Acquisition of Discover Magazine in Partnership With Bob Guccione, Jr.

Leading Science Magazine Acquired From Disney Publishing Worldwide

NEW YORK, NY -- (MARKET WIRE) -- November 21, 2005 -- Discover Media LLC announced today that it has closed its acquisition of the consumer science magazine Discover. Sandler Capital Management and WallerSutton 2000 served as Discover Media LLC's equity sponsors. Each firm has extensive expertise as investors in the media and communications industry. Discover Media, based in New York, has been created to operate Discover and to make further acquisitions in media. Media veteran Bob Guccione, Jr., founder and former publisher of magazines Spin and Gear, will serve as the company's chief executive officer. "We are thrilled to have closed the acquisition of Discover, which we consider one of the best written science magazines in the world," said Mr. Guccione. "In addition, we are extremely pleased to be working with WallerSutton and Sandler. We believe they will bring significant value to this endeavor through their depth of experience and relationships in the media industry."

"As media investors, we are constantly looking for high quality enterprises that can benefit from our expertise and financial resources," said Michael Marocco, Senior Managing Director of Sandler Capital. "Discover produces an outstanding editorial product that has allowed it to build a large and loyal readership base."

"We are excited to be working with Bob and his team in building this company," said Jack Woodruff, Partner of WallerSutton. "We believe Discover's extraordinary franchise will provide a strong foundation for growth, both in related media properties and internationally."

Veronis Suhler Stevenson served as financial advisor to Disney in this transaction. Mr. Guccione was advised by media banker, Robert Ranocchia.

Discover, which reaches 5.5 million readers monthly, is one of the world's leading science magazines, covering new technologies, medical breakthroughs, and other scientific fields as diverse as paleontology, space travel and physics. Founded in 1979, Discover has been published by Buena Vista Magazines, a subsidiary of Disney Publishing Worldwide, since 1991. During this time, Discover has been nominated for several National Magazine Awards, including a "Single Topic" category nomination for its September 2004 issue dedicated to Albert Einstein. receives up to three million page impressions each month.

WallerSutton 2000, LP ("WallerSutton") is a $165 million private equity fund focused on the media and communications industries. WallerSutton seeks to leverage its broad array of relationships -- in cable television, broadcasting, publishing, marketing services, outdoor media, new media, information technology, and other communications and technology businesses and services -- to support the management and growth of its portfolio companies. For more information, please visit

Sandler Capital Management has managed both hedge funds and private equity funds since 1980 and 1989, respectively. The firm has $1.5 billion in combined assets under management and uninvested commitments. Sandler's private equity effort focuses on three core industry sectors: traditional media, telecommunications/data communications, and enterprise communications. Sandler's investment professionals have over 200 years of combined experience as research analysts, portfolio managers, financial advisors, investment bankers, and private equity investors.

Disney Publishing Worldwide publishes books and magazines in 55 languages in 75 countries, reaching more than 100 million readers each month.

Contact Information

    Jason Stahl
    (212) 807-5483