Law Street Media Retains Strategic Advisors, Announces It Is Exploring a Sale
John A. Jenkins
Founder & CEO
NEW YORK, May 22, 2017 – Law Street Media, the innovative New York- and DC-based niche-media company created three years ago to serve millennials, announced today that it has retained strategic advisors and is exploring the sale of its digital publishing business.
Law Street began in late 2013 as a free, mobile resource for millennials interested in serious coverage of law and policy. The company reaches millions of influencers in that favorable demographic through its own platform, LawStreetMedia.com; on social media; and through its Millennial Audience Alliance. The company’s focus is on video and graphic storytelling about crime, law, democracy, and social justice. Law Street uses artificial intelligence tools to programmatically create videos which, since their introduction last October, have surged in viewership. Clients are served by Law Street Creative in New York; Law Street’s editorial operations are in Washington, D.C. The company derives revenue from academic subscriptions, and by creating custom sponsored content for clients.
In the past year, Law Street signed major distribution deals with Credo Reference and Wolters Kluwer to bring its coverage into the undergraduate and law school markets, making it the only company of its kind to produce highly engaging content that is also academically authoritative. Nearly all of Law Street’s users read and watch the company’s content on mobile devices, and most users are in the U.S.
John A. Jenkins, founder and CEO, said the company retained Robert Clauser, formerly the head of Accenture’s Media and Entertainment Strategy practice, to lead the transaction. Jenkins said he expected to find a strategic purchaser capable of deepening Law Street’s commitment to innovation and pushing into new markets such as science, health, and education: “There is so much more that we want to do. We want to go much deeper into AI and video, and continue with our innovations in Big Data visualization.”
Added Clauser: “Law Street is one of the most promising properties that I have seen emerging in digital media. The company really deserves to be well resourced to continue its strategy of growth and innovation.”
Jenkins started Law Street after the successful sale of CQ Press, where he was CEO. Law Street’s management group includes executives who came over with him from CQ Press, as well as a committed staff of young writers, editors, and social media strategists. The company’s chairman is Ken Michaels, CEO of Macmillan Learning. A year ago, Denny Klause, formerly the director of financial planning at LexisNexis, also joined Law Street as CFO.
Jenkins said the team’s deep roots in professional and academic publishing gave them keen insights into how mainstream publishers, which face steepening revenue declines and changing user habits, can navigate an uncertain future. In fact, the company’s decision to explore its options followed a recent unsolicited approach by one such publisher. “That got our attention. It made clear that we’ve created a powerful asset that offers traditional publishers something that is not easily built in house.”
Macmillan’s Ken Michaels underscored that point: “The media platform created by their young team takes niche media into a whole new dimension, with content that is authoritative yet highly engaging. Social. Mobile. Open. Video first. Law Street is a unique model for the new millennial era, representing an important path forward for an industry navigating a treacherous and ever-shifting landscape.”
Law Street Media (LawStreetMedia.com) is a free web-based platform covering law and public policy. It was founded as a way to provide a single essential resource to law students and young professionals in the rapidly evolving legal industry. Read the press release about Law Street’s launch here, and see the Publishers Weekly story about the company here. Law Street’s Founder and CEO is journalist and author John A. Jenkins, formerly President and Publisher of CQ Press. Read more about John and the rest of the Law Street team here. Law Street Media now serves millions of online visitors, locates its editorial office in Washington D.C., and has business operations in New York City. Early in 2016, Law Street brought aboard numerous investors from the publishing industry. Law Street’s chairman, Ken Michaels, is the CEO of Macmillan Learning.
Robert Clauser, 917-382-8223; rclauser@LawStreetMedia.com
John A. Jenkins, 202-276-7649; jjenkins@LawStreetMedia.com
Denny Klause, 316-393-3815; dklause@LawStreetMedia.com
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