FoCo crafting magazines get new ownership

FORT COLLINS  — Peak Media Properties LLC, a subsidiary of New York-based investor Terry O’Toole, has taken over a group of art and crafts magazines based in Fort Collins formerly held by F+W Media.

In a press release Tuesday, the new company said it closed the acquisition of more than 20 magazine titles based out of Fort Collins. That includes Interweave, a title founded in Loveland in 1975.

Greg Osberg, who was F+W’s CEO last June, is listed as Peak Media’s CEO in the release. Osberg was also president of Newsweek from 2000 to 2009 and CEO of the Philadelphia Inquirer’s parent company from 2010 to 2012.

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Peak Media is backed by New York investor Terry O’Toole and his fund Macanta Investments, which purchased the titles at auction last month from F+W.

“The opportunities in the special interest and enthusiast marketplace fit perfectly with the long tradition of editorial and publishing excellence inherent in these titles,” O’Toole said in a statement.

F+W Media filed for bankruptcy in March under the weight of more than $105 million in debt. Its magazine titles and book publishing division were auctioned off in June for $13.35 million in total.

It’s not clear how F+W Media’s bankruptcy or Peak Media’s acquisitions have affected employee counts at the magazines. F+W declined to say how many employees worked at the Fort Collins offices when the titles were sold last month.

Osberg and representatives at Macanta Investments did not respond to requests for comment Tuesday afternoon.