Kevin Hopper, Multimedia Platforms vice president and chief operating officer, will become Next’s new publisher, according to Bobby Blair, the company’s CEO.
“This is big LGBT media news,” Blair said in an email to the Miami Herald.
Earlier this year, Multimedia Platforms announced it had acquired FunMaps, a 33-year-old LGBT travel and leisure publishing company. The deal closed in March.
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In April, Blair and associates rang the NASDAQ closing bell. Multimedia Platforms describes itself as “the only LGBTQ publicly traded media company.”
Here’s the news release:
Multimedia Platforms, Inc. (OTCQB: MMPW) (”MMPW” or the “Company”), the only LGBTQ publicly traded media company, today announced closing on the acquisition of New York’s leading gay lifestyle weekly resource Next Magazine (”Next“) from RND Publications. Next began publishing in 1993 and today has over 50,000 weekly print readers, in excess of 120,000 monthly on-line unique visitors, 14,000 Twitter followers and a following on Facebook that exceeds 75,000 fans. Multimedia Platforms current Vice President and Chief Operating Officer, Kevin Hopper, will be appointed Publisher of NEXT.
With the closing of Next, MMPW has further consolidated the LGBTQ media marketplace by connecting top brands in top markets to create one, unified, national brand. These markets represent highly sought after target areas for Fortune 500 companies to reach a large percentage of the $850 Billion total purchasing power of the U.S. LGBTQ community. Leading global brands including Marriott, Nike, American Airlines, Starbucks and Walmart have all displayed support for the community and increased their advertising efforts targeting this loyal and influential community.
Strategically, the Company has acquired assets consisting of rich content, leading industry writers, loyal readers/subscribers and social media followers within key LGBTQ community marketplaces, now including New York. Other assets and key marketplaces are 80 U.S. cities through FunMaps® and Florida through the Florida Agenda and Guy Magazine.
Bobby Blair, Chief Executive Officer of Multimedia Platforms, stated, “We are pleased to purchase a globally recognized brand with 23 years of publishing the highest quality content in one of the most sought after media markets in the world. We will be connecting the global LGBTQ community, businesses and advertisers for the first time by providing news, entertainment, and connections through print, online and social media channels. Advertisers and businesses will benefit from the flow of information through the ability to quickly deploy content via one centralized location. We are currently in advanced discussions to continue rolling-up and consolidating the fragmented LGBTQ media market.”
David Moyal, Founder of Next Magazine, commented, “We are extremely excited to have finalized our agreement with Bobby and Multimedia Platforms. I firmly believe in his vision and the strategy that the Company is embarking on as evidenced by my decision to accept approximately 80% of the terms of our agreement in Multimedia Platforms equity. It is a vote of confidence in the team and long-term prospects as together we will continue to give the LGBTQ community a strong voice.”