FAIRCHILD BUYS 'ELEGANT BRIDE' MAGAZINE

Will Increase Frequency; Name New Editor

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NEW YORK (AdAge.com) -- Fairchild Publications announced today it has reached an agreement to purchase Elegant Bride magazine from Pace
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Communications. The terms of the transaction were not disclosed.

Elegant Bride was published quarterly by Pace. Effective with a Winter 2004 issue, Fairchild will begin publishing it six times a year. The company also said a new editor in chief and publisher will be named soon.

Studying the marketplace
Mary Berner, Fairchild's President-CEO, said the frequency switch and a general study of the title and its place in the market will necessitate skipping the scheduled Winter 2003 issue.

Ms. Berner portrayed the purchase as fitting with an overall Fairchild strategy. "We slice off the high end of the market," she said, drawing comparisons between her company's titles and those of corporate sibling Conde Nast Publications, which owns Bride's and Modern Bride.

"Details is to GQ as W is to Vogue and Elegant Bride is to the Conde Nast Bridal Group," which publishes the two bridal titles in alternating months six times a year. Details and W are Fairchild titles.

Magazine spin-offs
Aside form the internal competition, the bridal category is awash in offshoots of existing titles, such as Martha Stewart Weddings and In Style Weddings, as well as the newest entrant, Hearst Magazines' Town & Country Weddings.

Ms. Berner dismissed concerns of a crowded playing field. "There is room to operate," she insisted. "We see an opportunity in the market."

For the first half of 2002 -- the last period in which Elegant Bride reported its figures with Audit Bureau of Circulations -- its circulation was 102,000.

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