Golden Boy Enterprisesâ€™ Subsidiary, Sports and Entertainment Publications, LLC, Acquires The Ring Magazine, KO, World Boxing
For Immediate Release
LOS ANGELES (September 12, 2007) Sports and Entertainment Publications, LLC, is extremely pleased to announce the acquisition of the following titles from Kappa Publishing Group, Inc.: The Ring magazine, KO, World Boxing and Pro Wrestling Illustrated, which are the leading periodicals in the boxing and wrestling industry. Sports and Entertainment Publications, LLC, is an autonomous member of Golden Boy Enterprises family of companies.
The Ring was founded in 1922 and is known in the industry as â€œThe Bible of Boxing.â€ It pioneered the concept of boxing rankings and has been awarding the prestigious Ring championship belt to genuine world champions since then-heavyweight champion Jack Dempsey was the first recipient. Pro Wrestling Illustrated was launched in 1979 by Stanley Weston and is acknowledged as the number one independently published pro wrestling magazine in the world.
â€œWe have a very skilled and capable team at The Ring, headed by Publisher Stu Saks and Editor-in-Chief Nigel Collins, and I have all the confidence that these magazines will not only continue to prosper, but in fact grow globally,â€ said Oscar de la Hoya, president of Golden Boy Enterprises. â€œThese magazines will be held in an editorial trust where they will be operating totally independent of any influence from me or others from the Golden Boy Companies as it relates to editorial direction or content.â€
â€œThis is the kind of asset you never really own, but rather safeguard for the next generation,â€ said Golden Boy Chief Executive Officer Richard Schaefer. â€œWe are proud and honored to be part of this next generation and are mindful of the responsibility trusted upon us.â€
â€œThe Ring and Pro Wrestling Illustrated brands are, in our opinion, two of the strongest and most recognized brands in their respective fields,â€ said Schaefer. â€œWe are looking forward to being part of the next chapter of these great titles and are very respectful of the deep history of each.â€
â€œOscar and I would like to thank Nick Karabots and Despina McNulty of Kappa Publishing for giving us this opportunity as well as all fight fans for all they have done for these great magazines during their ownership,â€ said Schaefer.
De La Hoya continued, â€œAs a young kid growing up I was always waiting with anticipation to get the new issue of The Ring. To be here now and actually own the title is truly a dream come true. We encourage fight fans, fighters, and promoters to rally together and continue in the impressive resurgence our beloved sport of boxing has experienced this year.â€
About Golden Boy Enterprises
Golden Boy Enterprises is a diversified holding company of legendary Olympic Gold Medal winner, ten-time world Champion and Grammy nominated recording artist Oscar de la Hoya. Its principle assets include a bi-coastal portfolio of real estate and various entertainment, sports, media and financial services related participations with a main focus on the growing U.S. Hispanic Market. Golden Boy Enterprises LLC is as well the principal shareholder of Golden Boy Promotions, the leading boxing promotion company with nearly 50 fighters under contract.
About Sports and Entertainment Publications, LLC
Sports and Entertainment Publications, LLC is a limited liability company recently formed by Oscar de la Hoya for the sole purpose of operating these publishing properties and exploring other publishing opportunities.
About Kappa Publishing Group, Inc.
Founded in 1985 Kappa Publishing Group and Affiliates are presently located in Fort Washington, Pa and remain the largest publisher of Puzzle Magazines and Books in the U.S. with additional specialties in the entertainment field. For additional information visit www.kappapublishing.com.