(September 2, 2020) — Isis Venture Partners today announced the sale of Dan’s Independent Media, the largest and most diversified media company on Long Island’s East End to Schneps Media, the largest community media company in the New York region.
The transaction becomes effective with the Labor Day issue of Dan’s Papers, marking sixty-one summers of the Hamptons mainstay and almost exactly to the day ten years since its purchase by Isis Venture Partners’ Manhattan Media.
“It’s been a remarkably fun and successful ten years,” said Richard Burns, Dan’s Chairman. “We’re extremely proud of the way, with a highly talented team, we took a legendary weekly newsprint publication and transformed it into a vibrant diversified media and marketing company.”
In addition to the flagship Dan’s Papers, Schneps will also be acquiring the food festival series Dan’s Taste of Summer, the real estate franchise Behind The Hedges, Dan’s Best of the Best ratings and the largest social media following on the East End. Earlier this year in June, Dan’s completed the merger with Ronald O. Perelman’s weekly The Independent, to add a highly respected news service.
In a joint statement, Burns and Perelman, Dan’s Vice Chairman, said: “While we’re sad to part ways with Dan’s Independent Media, we took a decision to place the business into the hands of the strongest community media company in the region. This will ensure the long term continued success of this Hamptons gem for our valued readers, advertisers and staff.”
Schneps Media Owner and President Victoria Schneps commented: “As a long time Westhampton resident, I’ve loved the area, its diverse and distinct communities and Dan’s Papers forever. It’s a pleasure and privilege for us to welcome Dan’s into the Schneps Media family.”
Added Schneps CEO Josh Schneps: “We have long admired and respected the people, history and quality of Dan’s Papers. We know that it was a great fit for our company now and into the future. As we have with all of our media, we will invest to make it even better as the East End emerges through this Pandemic.”
With its acquisitions last year of amNew York, Metro New York and Metro Philadelphia adding to its portfolio of 72 publications and associated websites and social media channels, Schneps has emerged as the largest local media company in the New York City/Long Island region. Schneps Media has diversified across print, digital, events and broadcasting. Most recently the Company has adapted to the Pandemic with the premier virtual events and webinars.