Manhattan Media Acquires Dan’s Papers

Dan’s Papers, Inc. was acquired today by the company’s founder, Dan Rattiner, backed by Isis Venture Partners of New York City. It was purchased from the Brown Publishing Company.

Dan Rattiner will be the editor in chief and president of the company, and Bob Edelman will remain publisher. They will report to Tom Allon, president and C.E.O. of Manhattan Media, an Isis Ventures portfolio company. Dan’s Papers will be an operating subsidiary of Manhattan Media.

Dan’s Papers is enjoying its Golden 50th Anniversary this year, having been an integral part of  the Hamptons since its founding in 1960. From its first eight-page edition in Montauk, published while the founder was home for the summer from college, it has grown over the years to become the largest newspaper in the Hamptons, widely followed for its unique opinions, humor, news and the chronicling of the lives of the rich and famous.

Manhattan Media is a leading community media company in New York, with a diverse range of publications, live events, websites and marketing services, including: AVENUE magazine and AVENUE Art & Antique Shows, New York Press, Our Town, West Side Spirit, New York Family, City Hall and City Arts.

“With 50 years under my belt leading Dan’s, I was looking for a partner that understood community publishing and could help us leverage the goodwill and relationships we have established in the Hamptons,” says Dan Rattiner.

“Community publishing is all about local knowledge, character, being present and understanding your readers and clients,” says Richard Burns, chairman of Manhattan Media and general partner of Isis Ventures. “Dan’s Papers has all of that and a remarkable community leader in the person of Dan Rattiner himself.”

Manhattan Media has committed to work with the existing Dan’s Papers team to invest in the company’s publications and online offerings. There are also plans to expand the publication’s live event division.

“While the Brown Publishing Company ran into all kinds of financial difficulties culminating in bankruptcy, we are happy to say that Dan’s Papers never stopped making money and we are acquiring a healthy, profitable media business upon which we expect to build,” added Burns.

Lou Phelps of Phelps, Cutler & Associates advised Isis Ventures on this transaction. Legal counsel to Isis Ventures was Curtis, Mallet-Prevost, Colt & Mosle, represented by Timothy Barnes and Eileen Matthews,and The Law Offices of Michael M. Simon. Tax and accounting advice was provided by Kaufman, Rossin.