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Opperman Group Completes Acquisition of MSP Communications

MINNEAPOLIS, Nov. 25 /PRNewswire/ -- Key Investment, Inc. announced today that its investment group has completed the acquisition of MSP Communications, publisher of MPLS.ST.PAUL MAGAZINE, TWIN CITIES BUSINESS MONTHLY, COMPUTER USER, U.S.ART, and numerous specialty publications. Terms of the deal were not disclosed.

Key is a Twin Cities-based media and publishing company headed by Dwight Opperman and his son Vance.

Vance Opperman, chief executive officer of Key, said the new company will aggressively pursue expansion opportunities in the publishing field and will quickly position itself as a major content provider in the burgeoning online-service industry. Key will continue to publish all of the current publications under the MSP Communications name. No changes in management or staff will be made, Opperman said. MSP's former owners -- Burton Cohen, Gary Johnson, and Brian Anderson -- will continue to manage the business in their previous roles as president, chief operating officer, and editorial director, respectively.

Dwight Opperman served as chairman and chief executive officer of Eagan, Minn.-based West Publishing, the nation's leading legal publisher, until it was acquired in June 1996 by Toronto-based Thomson Corporation. Vance Opperman, who previously served as president of West Publishing, is now a member of the board of directors of the Thomson Corporation. Earlier this year, Vance Opperman became an owner and chairman of Minnesota Law and Politics, a monthly public affairs magazine based in Minneapolis.

MPLS.ST.PAUL MAGAZINE has been the largest city magazine in the United States in terms of advertising pages during each of the last three years. Its paid circulation of 65,000 is at an all-time high. TWIN CITIES BUSINESS MONTHLY, started three years ago, has become the dominant monthly business publication in the Twin Cities with a circulation of 30,000. COMPUTER USER is published monthly in 19 U.S. cities and has a combined circulation exceeding 700,000. MSP Communications also publishes U.S.ART MAGAZINE, which is distributed nationally to buyers of limited-edition prints, as well as other specialty magazines.

SOURCE Key Investment, Inc.
 -0- 11/25/96

/CONTACT: Vance Opperman of Key Investment, Inc., 612-333-6700/

CO: Key Investment, Inc.; MSP Communications ST: Minnesota IN: PUB SU: TNM

MR-KS -- MNM020 -- 3882 11/25/96 15:24 EST
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Publication:PR Newswire
Date:Nov 25, 1996
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