Emerson Collective, a social impact company run by Laurene Powell, is buying Pop-Up Magazine Productions for an undisclosed amount. Pop-Up, based in San Francisco, hosts "live magazine" events nationwide and also publishes online and offline California Sunday Magazine, distributed in major newspapers such as the Los Angeles Times and the San Francisco Chronicle.
The purchase came after an investment of at least $ 10 million in Pop-Up last year by Emerson, Palo Alto. Pop-Up, released in 2014, had already raised $ 4 million.
Emerson has made an increasing number of media investments through its lucrative arm in the last two years, including the purchase of a majority stake in Atlantic magazine, as well as major appearances in several Hollywood production companies such as Concordia Studio, Anonymous Content and Macro . He also invested in the maker of Gimlet Media podcasts and Axios Internet news site. Emerson – which also focuses on immigration, education, and the environment – has also funded many nonprofit journalism organizations, including ProPublica, Mother Jones, the Marshall Project, the Committee to Protect Journalists, and the Texas Observer.
In an interview with Pop-Up founders Doug McGray and Chas Edwards, the duo said Pop-Up was considering a range of options to expand their distribution of fast-growing magazines and business.
"We were looking at the rate at which we could pursue our growth and the risk of growing slowly in the current media landscape," said Edwards, who is the president and editor of Pop-Up.
McGray, who is the editor-in-chief, said they saw a kind of spirit with the main investor of Pop-Up. "They know us so well and understand that we have always been inspired by the idea of making journalism as ambitious and inventive as we can," he said.
In a statement, Powell Jobs highlighted that link.
"We think the creators and staff at Pop-Up Magazine and California Sunday are exciting and innovative. Both magazines have managed to create unique journalistic platforms that help foster empathy and a better understanding of the world, "she said. "Emerson Collective is excited to partner with both stores and share their work with a larger audience."