Doubledown Media acquires "Private Air"; will launch "corporate leader".

Doubledown Media (New York), the publisher of "Trader Monthly" and "Dealmaker" magazines, has acquired "Private Air" magazine from de Fine Ink, LLC (Birmingham, AL) and founder/CEO Deedee Morrison for an estimated $2.5-3 million. No terms of the deal were given.

"Private Air" has a controlled circulation of 35,000 jet owners and fractional owners, with additional distribution to 1500 fixed base operators and charter company executives as well as a paid circulation of 10,000 through newsstands. It is published six times a year and carries information on such topics as: innovations in flight technologies; new aviation products; pilot training; new plane launches; safety; and, ATC developments. It also carries information on vacation locations and leisure activities. It was launched in 2002.

The company will begin the publication of "Corporate Leader" magazine with an issue in October. It will have a controlled circulation of 100,000 CEOs, CFOs, and other C-level executives. More information will be forthcoming.

The magazine purchase and the upcoming launch doubles Doubledown's publishing assets. "Trader Monthly" was launched in 2005 and is published six times a year for a controlled circulation of 150,000, including 50,000 in the U.K., and is targeted to traders and hedge fund professionals. "Dealmaker" was launched in the fourth quarter of 2006 and has a controlled circulation of 100,000 financial professionals including equity managers, investment bankers, venture capitalists, and CEOs. It is published ten times a year.

Doubledown, headed by James Dunning, said the expansion is consistent with its philosophy of targeting "the working wealthy." He said the company would be involved in further expansion both through acquisition and organic growth and that the goal is to become a $100 million business.