2012-04-18 20:57:03 – CARYN WHITMAN RE-UNITES WITH BINN ON NEW MULTI-PLATFORM DIGITAL PRINT PUBLICATION REACHING OVER THREE MILLION AFFLUENT CONSUMERS
NEW YORK, NY, Wednesday, April 18, 2012 — Jason Binn, founder and former CEO of Niche Media, the leading publisher of luxury magazines nationwide including Gotham, Ocean Drive, Hamptons, Los Angeles Confidential, Aspen Peak, Michigan Avenue, and Capitol File, has just confirmed that Caryn Whitman, the current CFO of Guardian News Media LLC, the US subsidiary of the UK newspaper giant, The Guardian, (guardian.co.uk), will join DU JOUR’s dream team as Chief Financial Officer at the end of the month. Prior to joining Guardian, Whitman was CFO of Niche Media and Binn’s partner in managing the business. In that role, she took the company to market and ultimately sold it for a record price in 2007. Whitman will be
responsible for establishing and managing the financial and operational aspects of DU JOUR, ensuring a seamless launch this fall.
For the last year, Whitman has implemented the financial and operational infrastructure for Guardian’s newly launched US headquarters and website (guardiannews.com). With over 32 million unique readers worldwide per platform (including 10 million in the US), a reported 198 million GBP in revenue and a recently adopted multi-platform, digital first, global strategy, Guardian is a serious contender in the US market, competing with the likes of The New York Times, The Wall Street Journal and Huffington Post.
Whitman was recruited by Guardian to work on its US launch while leading the sale of its subsidiary, paidcontent.org, the b2b digital news website that covers the economics of digital content and is at the center of the paywall discussion. She served for two and half years as Chief Operating Officer reporting to the board of directors before successfully selling the company to GigaOmni Media in February 2012 for an undisclosed amount.
Whitman’s history with Binn dates back to 2001, when she partnered with him to build Niche Media from the ground up as its Chief Operating Officer and defacto CFO. Over the following seven years, the two launched six magazines in five cities. Whitman was responsible for finance, human resources and administration, production, technology and enterprise systems implementation across the organization. According to Binn, “Caryn helped shape and define my career at Niche. Her more recent experience has brought a strong understanding of both the digital and print worlds, making her an ideal partner for me at DU JOUR. I’m really looking forward to another home run with her on my team.”
Prior to joining Binn at Niche Media, Whitman was Business Manger at Details magazine and before that worked as a Senior Associate at PricewaterhouseCoopers, the premier Big 4 public accounting firm. She is a licensed certified public accountant in the state of New York.
Whitman joins Keith Pollock and Nicole Vecchiarelli who will serve as Co-Editors-in-Chief; Alan Katz and Cynthia Lewis who will serve as Chief Revenue Officer and VP of Sales, respectively; Max McDonnell who will serve as Associate VP of Product Development, and Brandon Ralph from digital shop Code Theory , all working under Jason Binn as CEO/Publisher. This highly talented senior leadership team will lead the launch of DU JOUR, noteworthy for its unique hybrid approach. As a national magazine with targeted local content, DU JOUR will seamlessly connect digital and print media, bridging the gap between content and commerce. DU JOUR will be an ABC-audited, monthly digital publication reaching over three million of the most affluent consumers, coupled with a quarterly, oversized, glossy print magazine with 250,000 print copies available by subscription and an additional 15,000 copies prominently displayed at premium newsstands throughout DU JOUR markets.
DU JOUR will focus on the top US markets, including New York, Los Angeles, Chicago, Miami, Dallas, Las Vegas, and San Francisco, where roughly 80% of the sales of all luxury products and services are located, in addition to seasonal regions, like the Hamptons, Aspen, and Sun Valley. Editorial will cover the worlds of fashion, travel, fine dining, gourmet, beauty, night life, jewelry, accessories, watches, art, entertainment, business, culture, home, real estate, entertaining, health, spirits, beverages, technology, finance, sports, and politics — ultimately shaping the lifestyle that ties these categories together.
The magazine will target transactional readers who also meet five of the seven following qualifiers: Average net worth of $5 million+; liquid assets over $1 million; average home values in excess of $1.5 million; average income in excess of $250,000; annual offline transactional luxury purchases of $100,000+; $10,000+ online high-end purchases annually; annual philanthropic donations over $10,000.
ABOUT JASON BINN (dujour.com):
Jason Binn is the Founder and former CEO of Niche Media Holdings LLC, a leading publisher of luxury magazines nationwide including Gotham, Ocean Drive, Hamptons, Los Angeles Confidential, Aspen Peak, Michigan Avenue, and Capitol File. No longer at Niche, Binn has expanded into new areas, partnering with some of the most creative and inspired entrepreneurs of the day. In August of 2010 he was appointed Chief Advisor to the CEO and Founder of Gilt Groupe, Kevin Ryan. Binn was awarded Ernst Young’s “Entrepreneur of the Year” award, inducted into the American Advertising Federation’s “Advertising Hall of Achievement,” and featured in Crain’s “40 Under 40” list of successful entrepreneurs.
ABOUT GILT (gilt.com):
Gilt is an innovative online shopping destination offering its members special access to the most luxurious merchandise, culinary offerings, and experiences every day, many at insider prices. Gilt continually searches the world for the most coveted brands and products, including fashion for women, men, and children; home décor; artisanal products; hotels and travel experiences on every continent; and unique activities in a growing list of cities and destinations.
ABOUT JAMES COHEN (hudsongroup.com and dufry.com):
James Cohen is President CEO of Hudson Media Inc., a diversified magazine-service company which includes Hudson News Distributors LLC, one of the largest magazine and book distributors in the U.S. Additionally, Cohen is the founder and owner of Hudson News, the largest airport newsstand operator in the country and the leading travel retailer in North America. In 2008, Cohen and private equity firm Advent International merged Hudson News with Dufry AG of Basel, Switzerland, one of the largest airport duty-free operators in the world. Cohen now serves on the Board of Directors and is one of the company’s largest shareholders. The Hudson News brand is currently represented in 11 countries throughout the world, and the combined Dufry/Hudson entity comprises over 1,160 stores in 45 countries and 160 airports and terminals. Dufry’s duty-free stores carry some of the most prestigious brands in the world, including Cartier, Bulgari, Absolut, Estée Lauder, Chanel, Ralph Lauren, Hermès, Sony, and many others.