New York, NY – July 7, 2009 – Publications industry stalwart Jack Kliger is joining OpenGate Capital as senior advisor to the Los Angeles-based private equity firm, it was announced today by Andrew Nikou, CEO of OpenGate Capital. Mr. Kliger will provide strategic support on media and communications portfolio companies to OpenGate and will serve as acting CEO at entertainment industry flagship magazine, TVGuide Magazine, which is owned and operated by OpenGate.
Mr. Kliger is widely acknowledged in the magazine publishing industry as a leader with an extensive background overseeing major magazines who has also made early strides towards online magazine publishing in an effort to help prepare the publications industry for the digital transition.
In making the announcement, Mr. Nikou said, “The depth and the diversity of Jack’s experience attest to his remarkable vision.” Mr. Nikou added, “As OpenGate continues to expand into media, and as the company furthers its success with publications like TVGuide Magazine, Jack’s guidance on media and expansion strategies will be a tremendous asset to us.”
As President and CEO of Hachette Filipacchi Media U.S., Mr. Kliger was responsible for the fifth largest American consumer magazine publishing company whose holdings included leading brands such as Elle, Car and Driver, Woman’s Day and Road and Track magazines. Mr. Kliger also led the company’s strategic foray into digital publishing with five major web site launches and the acquisition of an online ad network.
OpenGate Capital acquired TVGuide Magazine, which has been an entertainment industry mainstay for decades, and is redeploying the publication as a cultural force that reflects America’s entertainment and cultural zeitgeist.
OpenGate Capital continues to broaden its business, having recently added the former children’s publishing division of Le Monde, Fleurus Presse, as well as Gabriel Ride Control Products, a leading manufacturer of specialty automotive parts. OpenGate also owns top European modeling agency, Models1, which provides talent for designers such as Gucci, Prada and Giorgio Armani, as well as MTV Networks, and represents top tier models including Agyness Deyn, Linda Evangelista, and Yasmin Le Bon.