ENTtech Media Group LLC To Acquire PAPER Communications

NEW YORK, Nov. 8, 2017 /PRNewswire/ -- Tom Florio, the former Condé Nast Publishing Director of Vogue, Teen Vogue, Bon Appétit and Condé Nast Traveler and most recently CEO of Advanstar Fashion Group; Drew Elliott, Chief Creative Officer of PAPER Communications, and XRM Media announce the establishment of ENTtech Media Group LLC—an entertainment, media, publishing and technology company to be based in New York City.  ENTtech has signed a purchase agreement with PAPER Communications (PAPER Magazine, Papermag.com and EXTRA EXTRA) co-founders, Kim Hastreiter and David Hershkovits, to acquire the property in a private sale scheduled to take place later this month. 

"We love PAPER as our first acquisition because of its cultural legitimacy and Drew's insights on where internet culture meets pop culture," said Tom Florio.  "We will build on their digital and native content, social architecture and video.  In 2018, the magazine will go quarterly with an increased distribution in bookstores and single copies." 

PAPER began in 1984 as a downtown arts and style magazine and in its more than 30 years has grown to a multi-platform media outlet.  In 2014, PAPER debuted its Break The Internet issue featuring Kim Kardashian on the now iconic cover photographed by Jean-Paul Goude. The issue caused a sensation and generated more than 70 million monthly unique visitors to Papermag.com.

"PAPER will be at the service of consumers who are hungry for quality video, original content and those 'Break The Internet' moments PAPER is known for," said Drew Elliott.  "In a world of clickbait, PAPER will continue to provoke the conversation, make art and create pop culture—not report on it.  We will take on issues that matter to young people, introduce them to new talent who are shaping the zeitgeist and of course, deliver the unexpected.  Partnering with Tom Florio and XRM Media to develop a new brand that doesn't have the trappings of traditional media companies is refreshing and exciting.  This is modern."

"We started PAPER in my house 33 years ago," said Kim Hastreiter.  "It's been amazing watching our baby grow and become such an important cultural voice for so many.  We are thrilled now to watch PAPER blast off and inspire a new generation of cultural vultures in multi-dimensional ways."

"I am so proud of our accomplishments over three decades of creative work in building the PAPER brand and having the chance to work with so many amazing people," said David Hershkovits. "When we began, I always hoped that one day we would be able to build a company that would carry on our legacy. Building on our multi-platform work in print, digital and creative marketing, PAPER's future is in good hands."

Michael Y. Chow, Co-Founder of XRM Media said, "PAPER Communications has succeeded over the years because the brand has remained culturally relevant for new generations.  By forging traditional with digital, XRM Media further strengthens our viewer relationships through unique stories and resonates with them in real time, becoming a hub for a community of next generation consumers."

About PAPER Communications:
Founded in 1984, PAPER Communications is a multi-platform company that publishes a magazine and website and also provides marketing services to a range of companies looking to connect their brands to culture and its communities. Services range from cultural strategy, experiential marketing, event production, custom content, communications strategy and influencer marketing. 

About ENTtech:
ENTtech Media Group is an entertainment, media, publishing and technology company.  At ENTtech creativity drives content and commerce. Our creative is married to an internal distribution platform and distributed across multiple channels in digital, mobile, native content and events.

About XRM Media:
XRM Media is based in Burbank, CA and is an independent media technology company dedicated to servicing the next generation of Gen-Z and Millennial consumers. We create content that entertains, inspires, and nurtures communities around the world. XRM Media develops new platforms and intellectual properties that push the envelope of storytelling, innovatively weaving technology and content closer together for a new generation of viewers and creators.

SOURCE ENTtech Media Group