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Press Release Contact: David Carew Dan Oswald Buys M. Lee Smith Publishers LLC Customers won't experience any disruption of products or services
NASHVILLE, TN, January 4, 2005 — Dan Oswald, who has served as President & Associate Publisher of Nashville-area-based M. Lee Smith Publishers LLC since November 2003, has purchased the 30-year-old, nationally renowned newsletter publishing and printing company from founder M. Lee Smith. The sale will not adversely affect customers in any way. All products and services — including legal publications, HRhero.com, and dozens of newsletters — will continue exactly as before. Oswald, whose new title will be President & Publisher, was offered an option to purchase the company in 2003 as part of the contract that lured him to Nashville from Chicago-based Lawrence Ragan Communications, Inc. One of America's most visible newsletter-industry executives, Oswald also serves as President of the Newsletter & Electronic Publishers Association, the international trade organization for newsletter publishers worldwide. He has held that position since June 2004.
Financial terms of Oswald's purchase of the company were not disclosed. Financing was provided by the Chicago-based structured finance group of Fifth Third Bank and by Prairie Capital, LP of Chicago. Under additional terms of the agreement, M. Lee Smith will continue, for the next five years, under contract to the company he founded 30 years ago this month. He also will retain his title of Chairman. The purchase agreement between Oswald and Smith culminates a 14-month-long process in which the men worked closely to put together what they call their "win/win/win transaction" — one that benefits the two of them, but which also demonstrates loyalty to the company's employees by not adversely affecting their livelihoods.
"A major benefit of Dan's purchase of the company," Smith said, "is that all of the company's 130 employees will continue their current duties, in the same location. I am most glad that no employees will lose their job as a result of this acquisition." Commenting on additional reasons why he chose to work with Oswald, Smith said, "Dan Oswald will bring a lot of enthusiasm and new ideas to the company. In fact, he already has, since first joining us in 2003. Dan is extraordinarily bright, has many years of experience in the newsletter and seminar and conference business, has very strong people skills, and, most important, is a person of the utmost integrity." For his part, Oswald said he is excited about achieving his long-standing dream of owning his own publishing company. "Lee has provided me with a tremendous opportunity," he said. "The strong brand and reputation Lee has built over the past 30 years provide a terrific platform on which to continue to grow the business." Oswald said he also is pleased Smith will remain Chairman of the company. "I'm thrilled Lee has agreed to work in the business," Oswald said. "He obviously has a long track record of success, and his continued involvement will certainly have a positive impact on the company." More About Dan Oswald During his tenure as President of Lawrence Ragan Communications, Inc. (January 1996 to November 2003), revenues of the Chicago-based newsletter and conference company more than doubled, establishing Oswald as one of the premier executives in the newsletter and corporate communications industries. Serving as Vice President of Marketing at Lawrence Ragan Communications prior to his promotion to President, Oswald was responsible for many of the cutting-edge direct-mail and other marketing strategies that ultimately resulted in 100% growth of company revenues during a five-year period. Prior to joining Lawrence Ragan Communications, Inc., Oswald was Marketing Manager at Aspen Publishers, Inc. He is a graduate of Westmar College. More About M. Lee Smith Publishers LLC M. Lee Smith Publishers LLC is the only company in America that produces a state-specific employment law newsletter for all 50 states. The company is the nation's top provider of state-specific employment law content for human resources professionals. The 50 employment law newsletters are researched and written by attorneys in each of the states, under the umbrella of the national Employers Counsel Network. M. Lee Smith Publishers also publishes, among many other newsletters and information products, the national newsletters 'Federal Employment Law Insider' and 'HR Insight: Proven Strategies for the Human Resources Professional.' In total, M. Lee Smith Publishers provides more than 80 newsletters and other information products for HR professionals, business executives, and attorneys nationwide. The company also provides printing and mailing services for its own products and for other newsletter companies, from Boston to San Francisco. The company's clients include Harvard Business School Publishing, HCPro, and American Lawyer Media. Fast Rise of a Nashville Publishing Executive Dan Oswald, New President & Publisher,
M. Lee Smith Publishers LLC: 1991 . . . Named Marketing Manager, Aspen Publishers, Inc. 1995 . . Named Vice President of Marketing, Lawrence Ragan Communications, Inc., Chicago. 1996 . . . Promoted to President, Lawrence Ragan Communications, Inc., Chicago. 2003 . . . Named President & Associate Publisher, M. Lee Smith Publishers LLC, Brentwood (Nashville area), Tennessee. 2004 . . . Elected President, Newsletter & Electronic Publishers Association, the international trade organization for newsletter publishers worldwide. 2005 . . . Purchases M. Lee Smith Publishers LLC; assumes title President & Publisher. |
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