SkyMall has a new owner
April 5, 2012 12:05 PM
In-flight cataloger and e-retailer SkyMall Inc. has a new owner. Bookspan, a direct-to-consumer media distributor, has bought SkyMall, says Direct Brands Inc., which owns Bookspan. Direct Brands did not disclose terms of the deal.
SkyMall, with $80.5 million in 2010 web sales, is No. 185 in the Internet Retailer Top 500. Both Direct Brands and SkyMall are direct-to-consumer retail companies. “The combination of Direct Brands and SkyMall will further enhance and strengthen the overall experience of our customers and club members,” says Daniel Shum, Direct Brands executive chairman.
Other brands owned by Direct Brands include the Book-of-the-Month Club, Columbia House, Doubleday Book Club and Your Movies. Private investment firm Najafi Cos. owns Direct Brands. Last year, Najafi bid on the e-commerce assets of now defunct Borders Group Inc., but was blocked in the bid.
Private equity fund Spire Capital Partners and The Greenspun Corporation, which has media and travel investments, previously owned SkyMall, which was founded in 1990.