F+W Media’s titles sold at auction, Active Interest purchases some assets

FORT COLLINS and BOULDER — Macanta Investments LLC, a New York-based investment firm, looks set to acquire several crafts magazines based in Fort Collins after submitting winning bids in a bankruptcy auction.

Macanta successfully bid $3,525,000 for F+W Media Inc.’s arts and crafts titles Monday, including $2,850,000 for a group of magazines that includes Interweave, which was founded in Loveland in 1975. Interweave and other titles in the company’s crafting group are currently based in Fort Collins.

Cruz Bay Publishing, a subsidiary of Boulder-based publisher Active Interest Media, purchased Popular Woodworking, Writer’s Digest, Family Tree, Horticulture Magazine and six other niche titles for $1,750,000.

F+W purchased Interweave in 2012. F+W received an investment from investment firm Tinicum Inc. in 2014. Terry O’Toole, who heads Macanta Investments, is a partner in Tinicum.

F+W spokesman Peter Jarew declined to say how many employees currently work in Fort Collins until the company completes its reorganization.

Macanta Investments did not immediately respond to a request for comment Wednesday morning.

F+W filed for bankruptcy in March, citing over $105 million in debts. The company’s assets were sold for $13.35 million between its book publishing and magazine divisions.

 

FORT COLLINS and BOULDER — Macanta Investments LLC, a New York-based investment firm, looks set to acquire several crafts magazines based in Fort Collins after submitting winning bids in a bankruptcy auction.

Macanta successfully bid $3,525,000 for F+W Media Inc.’s arts and crafts titles Monday, including $2,850,000 for a group of magazines that includes Interweave, which was founded in Loveland in 1975. Interweave and other titles in the company’s crafting group are currently based in Fort Collins.

Cruz Bay Publishing, a subsidiary of Boulder-based publisher Active Interest Media, purchased Popular Woodworking, Writer’s Digest, Family Tree, Horticulture Magazine and six other niche titles for $1,750,000.

F+W purchased Interweave in 2012. F+W received an investment from investment firm Tinicum Inc. in 2014. Terry O’Toole, who heads Macanta Investments, is a partner in Tinicum.

F+W spokesman Peter Jarew declined to say how many employees currently work in Fort Collins until the company completes its reorganization.

Macanta Investments did not immediately respond to a request for comment Wednesday morning.

F+W filed for bankruptcy in March, citing over $105 million in debts. The company’s assets were sold for $13.35 million between its book publishing and magazine divisions.