Former Cygnus Staffers Buy Their Old Magazine’s Assets

Last year, trade publisher Cygnus laid off 12 percent of its staff—50 people—and “suspended” four of its underperforming titles, hoping to find buyers for those mags.

Well, for two titles, that buyer has finally come in the form of former Cygnus employees.

NueMedia LLC consists president Ross Scovotti, formerly a regional sales representative for Cygnus, and Jay Schneider, ex-Cygnus commercial woodworking group publisher, now CIO of NueMedia.

The new company has recently acquired the content, circulation and product archives of both Wood Digest and Finishing magazines. The deal did not include the magazines’ brand identities, which Cygnus retains.

Scovotti and Schneider told Folio: that instead of relaunching the titles in print, they are creating two new “digital information portals” (aka web sites) at WoodIQ.com and FinishingIQ.com. There’s also a core mobile component using 4G technology.

NueMedia also told Folio: that the new company is going to “change the face of trade publishing forever.”

The sites will go live by mid-April and fully operational by early May.

No word on whether NueMedia is hiring, but the two bosses say that both WoodIQ.com and FinishingIQ.com will contain a mix of new and archived content.

Also, if you go to WoodIQ.com right now, there’s a countdown timer and the most incredible Flash animation we have EVER SEEN.
woodiq.png