Tag: Calera Capital

All the news that fits, we print (part four)

~ Patrick O'Grady ~ 5 Comments

It’s official — Competitor Group Inc., which owns Velo magazine and VeloNews.com, has been sold to Calera Capital.

All you’ll ever need to know about the corporate buccaneers who did for VeloNews what Bain Capital did for Ampad is contained in the press release issued today from CGI HQ in San Diego. David Moross, chairman of Falconhead Capital, which owned CGI before the sale to Calera, made sure to give credit where credit was due:

“Five years ago we set out to build a leading company in an industry that was highly fragmented, but well positioned for tremendous growth,” said Falconhead Chairman David Moross. “Competitor Group has grown dramatically during this period and realized much of the potential we originally envisioned. This success is due to the original strategy we developed to create the company, and the hard work of our very talented management team and our board of directors.”

Emphasis mine. Yes, sacking cancer victims, veteran Tour correspondents and crackerjack ad salesmen takes talent and hard work, like hitting your own thumb with a five-pound sledge, setting yourself ablaze while trying to drink a Flaming Jesus, or stepping on your dick while fleeing a raid at a Vegas whorehouse. I expect that no matter what the future holds, the boyos in Boulder will be glad to see the last of Cap’n Moross and his pirate crew. Arrr.

All the news that fits, we print (part three)

~ Patrick O'Grady ~ 6 Comments

While I was focused on the sale of our “local” daily newspaper to yet another out-of-town right-winger I overlooked reports that the owner of Velo magazine and VeloNews.com, Competitor Group Inc., has likewise been sold — to another venture-capital outfit, Calera Capital.

As with the sale of the Gazette to Denver billionaire Philip Anschutz, I know nothing about what this may mean for Velo/VeloNews.com’s readers and advertisers. Based on a casual glance at its website, Calera, like Anschutz, appears to have a wide range of financial interests, from banking to forest products to truck stops. Unlike Anschutz, it appears to have had no interest or involvement in media prior to this purchase.

The reports remain unconfirmed by corporate spokescreatures, save for one anonymous insider who told Bicycle Retailer and Industry News that “it’s a done deal. …”

More as (or if) I hear it.