Spire Capital Announces Acquisition of SkyMall

Investors to Expand Leading In-Flight Media Brand



Dec 05, 2005, 00:00 ET from SkyMall, Inc.

    PHOENIX, Dec. 5 /PRNewswire/ -- Spire Capital Partners, along with
 Greenspun Media Group and ZelnickMedia Corporation, today announced the
 acquisition of SkyMall, Inc. from parent company Gemstar-TV Guide
 International, Inc.  Phoenix-based SkyMall publishes America's largest
 in-flight catalog, reaching 650 million air passengers annually on 14 U.S.
 airlines.  SkyMall also manages a leading e-commerce site, skymall.com, and
 loyalty marketing programs serving frequent travelers.
     "The company is strongly positioned and well managed. We look forward to
 working with SkyMall management, airlines, merchants and loyalty partners as
 well as with our colleagues at Greenspun Media Group and ZelnickMedia to build
 upon the foundation of this terrific brand and unparalleled in-flight
 distribution," said Richard Patterson, a Spire Capital Managing Partner.
     "With our extensive print media holdings, as well as our tour and travel
 website, Vegas.com, we feel we can contribute many synergistic growth avenues
 to SkyMall and we look forward to working closely with Spire in broadening the
 long term prospects of the brand," according to Greenspun Media Group.
     Christine Aguilera, President of SkyMall since October 2003, will continue
 in her current role, reporting to the Board.  "The SkyMall management team is
 very excited to have the support of Spire Capital and Greenspun Media Group,"
 said Christine Aguilera.  "In combination with SkyMall's dedicated employees,
 Spire and Greenspun Media Group will help the company take advantage of our
 many growth opportunities."
     "We are pleased to have worked closely on this acquisition with both Spire
 and Greenspun," said ZelnickMedia partner Scott Siegler.  ZelnickMedia
 initiated the transaction.
     Harris, N.A. was the lead arranger on the debt financing for the
 acquirers.
 
     About SkyMall
     SkyMall, Inc. is a specialty publishing and marketing services firm
 headquartered in Phoenix, Arizona.  SkyMall produces a quarterly in-flight
 publication, SkyMall, with an annual circulation of approximately 20 million
 copies distributed in airplane seat pockets.  SkyMall is a multi-channel,
 direct marketer offering high-quality, innovative merchandise from top direct
 marketers and manufacturers through its SkyMall catalog and web site,
 skymall.com. The SkyMall catalog is seen by approximately 88% of all domestic
 air passengers reaching more than 650 million air travelers annually.  SkyMall
 also offers turn-key merchandise and fulfillment solutions for loyalty
 marketing programs.
 
     About Spire Capital
     Spire Capital Partners, L.P., established in April 2000, is currently
 investing a $260 million private equity fund focused exclusively on the media,
 communications and business services industries. Spire Capital's Principals
 have served as owners, managers, investors and advisors of companies in these
 industries for over 20 years.  Spire Capital's diversified portfolio includes
 holdings in the radio, publishing, cable, Internet content and infrastructure,
 marketing, newspapers and information services sectors.
 
     Greenspun Media Group
     Greenspun Media Group is a diversified media, Internet, and broadcasting
 group owned and controlled by The Greenspun Corporation and family located in
 Las Vegas, Nevada.  The Greenspun Corporation also controls and operates other
 businesses in and around Las Vegas including real estate holdings in office,
 retail and gaming, and a real estate development company.  www.vegas.com/about
 
     About ZelnickMedia
     ZelnickMedia is a partnership of experienced media executives that owns
 interests in and manages an array of media enterprises in recorded music,
 publishing, catalog and online retailing, market research, CD manufacturing,
 online games, and media-related software in the U.S., Europe and Asia. The
 company's holdings include interests in Time Life, Lillian Vernon, Columbia
 Music Entertainment (CME) of Japan, UGO, Arkadium, National Lampoon, Naylor
 Publications, and OTX, the online market research company.
 
 

SOURCE SkyMall, Inc.
    PHOENIX, Dec. 5 /PRNewswire/ -- Spire Capital Partners, along with
 Greenspun Media Group and ZelnickMedia Corporation, today announced the
 acquisition of SkyMall, Inc. from parent company Gemstar-TV Guide
 International, Inc.  Phoenix-based SkyMall publishes America's largest
 in-flight catalog, reaching 650 million air passengers annually on 14 U.S.
 airlines.  SkyMall also manages a leading e-commerce site, skymall.com, and
 loyalty marketing programs serving frequent travelers.
     "The company is strongly positioned and well managed. We look forward to
 working with SkyMall management, airlines, merchants and loyalty partners as
 well as with our colleagues at Greenspun Media Group and ZelnickMedia to build
 upon the foundation of this terrific brand and unparalleled in-flight
 distribution," said Richard Patterson, a Spire Capital Managing Partner.
     "With our extensive print media holdings, as well as our tour and travel
 website, Vegas.com, we feel we can contribute many synergistic growth avenues
 to SkyMall and we look forward to working closely with Spire in broadening the
 long term prospects of the brand," according to Greenspun Media Group.
     Christine Aguilera, President of SkyMall since October 2003, will continue
 in her current role, reporting to the Board.  "The SkyMall management team is
 very excited to have the support of Spire Capital and Greenspun Media Group,"
 said Christine Aguilera.  "In combination with SkyMall's dedicated employees,
 Spire and Greenspun Media Group will help the company take advantage of our
 many growth opportunities."
     "We are pleased to have worked closely on this acquisition with both Spire
 and Greenspun," said ZelnickMedia partner Scott Siegler.  ZelnickMedia
 initiated the transaction.
     Harris, N.A. was the lead arranger on the debt financing for the
 acquirers.
 
     About SkyMall
     SkyMall, Inc. is a specialty publishing and marketing services firm
 headquartered in Phoenix, Arizona.  SkyMall produces a quarterly in-flight
 publication, SkyMall, with an annual circulation of approximately 20 million
 copies distributed in airplane seat pockets.  SkyMall is a multi-channel,
 direct marketer offering high-quality, innovative merchandise from top direct
 marketers and manufacturers through its SkyMall catalog and web site,
 skymall.com. The SkyMall catalog is seen by approximately 88% of all domestic
 air passengers reaching more than 650 million air travelers annually.  SkyMall
 also offers turn-key merchandise and fulfillment solutions for loyalty
 marketing programs.
 
     About Spire Capital
     Spire Capital Partners, L.P., established in April 2000, is currently
 investing a $260 million private equity fund focused exclusively on the media,
 communications and business services industries. Spire Capital's Principals
 have served as owners, managers, investors and advisors of companies in these
 industries for over 20 years.  Spire Capital's diversified portfolio includes
 holdings in the radio, publishing, cable, Internet content and infrastructure,
 marketing, newspapers and information services sectors.
 
     Greenspun Media Group
     Greenspun Media Group is a diversified media, Internet, and broadcasting
 group owned and controlled by The Greenspun Corporation and family located in
 Las Vegas, Nevada.  The Greenspun Corporation also controls and operates other
 businesses in and around Las Vegas including real estate holdings in office,
 retail and gaming, and a real estate development company.  www.vegas.com/about
 
     About ZelnickMedia
     ZelnickMedia is a partnership of experienced media executives that owns
 interests in and manages an array of media enterprises in recorded music,
 publishing, catalog and online retailing, market research, CD manufacturing,
 online games, and media-related software in the U.S., Europe and Asia. The
 company's holdings include interests in Time Life, Lillian Vernon, Columbia
 Music Entertainment (CME) of Japan, UGO, Arkadium, National Lampoon, Naylor
 Publications, and OTX, the online market research company.
 
 SOURCE  SkyMall, Inc.