(COMTEX) B: gfn.com, the Gay Financial Network to Partner With OUT Ma
B: gfn.com, the Gay Financial Network to Partner With OUT Magazine To Launch
Out.com
NEW YORK, Aug 4, 1999 (BUSINESS WIRE via COMTEX) --
Premier Gay Financial Portal and Nation's Largest
Gay and Lesbian Publication
Create World Wide Web's Most Comprehensive Gay Virtual Community
gfn.com, the Gay Financial Network (www.gfn.com), the leading online
provider of financial and business news to the gay and lesbian
community, and Out Publishing Inc., parent of Out, America's leading
gay and lesbian magazine, today announced their plans to launch Out.com
(www.out.com).
Jeffrey L. Newman, president and COO of gfn.com, and Henry E. Scott,
president and editorial director of Out Publishing Inc, made the
announcement.
The site, which is expected to go live in October, will provide a
wide-ranging and constantly evolving mix of news, views and interactive
features especially tailored to the needs and interests of America's
five million gay and lesbian cyber-enthusiasts.
"Out.com brings together Out magazine, the largest gay print
publication, and gfn.com, the most highly influential gay Internet
player," Newman said. "This partnership of such immediately
recognizable and respected brand names certifies the role of the
Internet as the most important and most powerful place for timely,
topical and cogent news, information and services to the gay and
lesbian community."
Out and gfn.com expect that by September 1, Internet users will be able
to sign on to Out.com and register to win a free European trip for two.
They will also gain access to the latest headlines at gfn.com, the
Web's leading gay and lesbian business news site.
Newman will serve as president and CEO of Out.com. gfn.com's Chief
Technology Officer Alex Karamangolou will serve as executive vice
president. Together, they will design, launch and maintain the new
site, which will be hosted and housed at gfn.com's corporate office in
New York City.
Out.com's editorial and advertising teams will be entirely autonomous
and independent of those of both gfn.com and Out magazine. Gfn.com will
be Out.com's main financial content provider. Editorial direction for
the site will be provided by Newman, under whose direction gfn.com
membership and revenues have increased more than tenfold since November
1998. "This new venture will bring together the two most powerful and
respected gay media players to create a dynamic and unique product,
said gfn.com Founder and Chairman Walter B. Schubert. "The chemistry
and fusing of talent is a natural combination for both companies."
Scott added, "It was only natural that we chose gfn.com to create and
manage Out.com. gfn.com's interactive savvy and Internet
community-building skills will enable Out.com to realize its full
potential. We look forward to a long and mutually successful
relationship."
Newman continued, "Out represents one of the most highly regarded and
trusted brands in the marketplace, with a tremendously loyal
constituency. The powerful combination of Out magazine and gfn.com will
ensure that Out.com offers the gay and lesbian community the most
up-to-date, cutting-edge news and entertainment site on the World Wide
Web."
About gfn.com
Launched in 1998, gfn.com (GFN Holdings, LLC) is the leading online
resource devoted to the unique financial needs of the gay and lesbian
community. Founded by gfn.com Chairman, Walter B. Schubert, Jr., a
third generation member and first openly gay member of the New York
Stock Exchange, the free site exclusively provides daily and weekly
comprehensive business and financial news and information, as well as a
variety of specially tailored financial and investment services. In
addition, gfn.com President Jeffrey L. Newman delivers a daily radio
show on gay and lesbian financial issues and writes a free, exclusive
daily commentary on Wall Street. The company's headquarters are located
in New York City.
About OUT
Out was founded in 1992 as America's first general-interest gay and
lesbian magazine. In seven years of existence it has grown to become
the largest in its niche, with a monthly readership of nearly half a
million. Out's audited circulation is 550 percent larger than that of
its nearest gay and lesbian market competitor. Its parent company, Out
Publishing, Inc. also publishes HIV PLUS, a quarterly magazine devoted
to HIV and AIDS research, prevention, and treatment.
Copyright (C) 1999 Business Wire. All rights reserved.
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CONTACT: Alice Leeds Alli Hirschman
Public Relations Director Public Relations Coordinator
gfn.com gfn.com
Phone: 212.349.1659, x13 Phone: 212.349.1659, x30
Email: aleeds@gfn.com Email: ahirschman@gfn.com
Alberto Rojas
Out Publishing, Inc.
Phone: 212.334.9119, x63
Email: outrojas@aol.com
WEB PAGE: businesswire.com
GEOGRAPHY: NEW YORK
INDUSTRY CODE: INTERACTIVE/MULTIMEDIA/INTERNET
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