Fancy Harvard Mag Gets New Downmarket Owner

For some reason we thought 02138—the annoyingly named pretend Harvard alumni magazine that proclaimed itself Vanity Fair for people who went to Harvard and wished to read a second, inferior Vanity Fair each month—had already been shuttered by Atlantic Media. Well, it's alive. Tiny, unknown Manhattan Media (they own the New York Press and some things you've never heard of) bought the magazine from Atlantic Media for an undisclosed price. The publisher will remain cofounder Bom Kim (for now), but Manhattan Media has decided to expand the brand into—wait for it—social networking. Then they will introduce new versions of the magazine for every other Ivy League school, because if there's a group of people who don't have enough media outlets to write for, it's Ivy grads. Amusingly, the Manhattan Media press release announcing the deal leaves out their only existing holding anyone remembers reading: the embarrassing second-string alt-weekly New York Press. That release after the jump, along with a selection from this week's Press "guest sex columnist." [NYT]

MANHATTAN MEDIA LAUNCHES IVY LEAGUE MEDIA
WITH ACQUISITION OF 02138, HARVARD ALUMNI LIFESTYLE MAGAZINE

New division to roll out magazines, social networking sites, events for alumni
of all eight Ivy League universities

www.manhattanmedia.com

New York (May 12, 2008) - Adding to its growing roster of media properties,
Manhattan Media today announced that it has acquired 02138, the award-
winning lifestyle magazine for Harvard alumni, from Atlantic Media, Bom Kim
and Daniel Loss. This price was not disclosed.

02138 is the latest upscale title under Manhattan Media's widening media
reach; AVENUE, which the company purchased in 2002, boasts one of the
wealthiest readerships of any magazine in the U.S. New York Family reaches
elite parents in Manhattan and Brooklyn. The seven-year old company also
publishes five weekly newspapers in New York City and two political
publications that reach the power elite in New York City and State
government.

As part of the acquisition, Manhattan Media President and CEO Tom Allon also
announced that the company is launching a new division, Ivy League Media,
which will publish a series of like-minded magazines, web sites and social
networking events targeting alumni from other Ivy League schools: Yale,
Princeton, Cornell, Dartmouth, University of Pennsylvania, Columbia, and
Brown.

Allon said that 02138 will increase frequency from quarterly to six times a
year beginning in 2009. Ivy League Media will also launch social networking
websites for each of the magazines plus a live events division.

"We're pleased to have 02138 join Manhattan Media's stable of luxury
brands," said Allon. "The magazine has struck a nerve with Harvard alumni
thanks to its lively, irreverent, sophisticated perspective, and we're confident
that it's a model that will resonate with other Ivy League alumni."

Founded in 2006 by Harvard alums Bom Kim and Daniel Loss, 02138 boasts a
readership of 100,000 alumni and has garnered national media attention,
especially for its annual "Harvard 100" edition, which ranks the university's
top 100 living alumni. Last year, Al Gore led the list, ahead of President
George Bush. Bill Gates topped the list in 2006.

"I'm delighted that we've found a new home at Manhattan Media and I'm
excited to join their management team," said Kim, who will remain with the
magazine as Publisher. "The re-launch of our magazine, along with the build
out of a social networking website and live events is a dynamic model that
will be scalable to other Ivies. The alumni of these eight universities are a
very desirable demographic for advertisers and sponsors — the power and
financial elite."

About 02138
02138 is the award-winning lifestyle magazine for a unique community of
highly educated, affluent, and influential readers-Harvard alumni. Stylish as it
is sophisticated, irreverent as it is intelligent, 02138 engages the interests
and passions of this coveted audience. From commerce to comedy, medicine
to M&A, public service to private jets, each issue looks at news and culture
through the Harvard lens.


About Manhattan Media
Manhattan Media is a leading community publisher. It owns magazines,
newspapers, websites and live events in New York City and Albany, New
York. For more information, go to www.manhattanmedia.com.

And, from this week's Press:

She was standing next to an overweight, middle-aged man. He was naked except for a leather mask and was sprawled on his back across a stainless steel table. His eyes were closed, and the muscles in his neck were strained, suggesting that he was in pain—which made sense, because half of Katrina's forearm was in his ass. She was smiling, and looking at her, I realized it was the only time I'd seen her smile.