Spire Capital Announces Acquisition of SkyMall

Spire Capital Announces Acquisition of SkyMall

Investors to Expand Leading In-Flight Media Brand

PHOENIX, Dec. 5 — Spire Capital Partners, along with
Greenspun Media Group and ZelnickMedia Corporation, today announced the
acquisition of SkyMall, Inc. from parent company Gemstar-TV Guide
International, Inc. Phoenix-based SkyMall publishes America’s largest
in-flight catalog, reaching 650 million air passengers annually on 14 U.S.
airlines. SkyMall also manages a leading e-commerce site, skymall.com, and
loyalty marketing programs serving frequent travelers.
“The company is strongly positioned and well managed. We look forward to
working with SkyMall management, airlines, merchants and loyalty partners as
well as with our colleagues at Greenspun Media Group and ZelnickMedia to build
upon the foundation of this terrific brand and unparalleled in-flight
distribution,” said Richard Patterson, a Spire Capital Managing Partner.
“With our extensive print media holdings, as well as our tour and travel
website, Vegas.com, we feel we can contribute many synergistic growth avenues
to SkyMall and we look forward to working closely with Spire in broadening the
long term prospects of the brand,” according to Greenspun Media Group.
Christine Aguilera, President of SkyMall since October 2003, will continue
in her current role, reporting to the Board. “The SkyMall management team is
very excited to have the support of Spire Capital and Greenspun Media Group,”
said Christine Aguilera. “In combination with SkyMall’s dedicated employees,
Spire and Greenspun Media Group will help the company take advantage of our
many growth opportunities.”
“We are pleased to have worked closely on this acquisition with both Spire
and Greenspun,” said ZelnickMedia partner Scott Siegler. ZelnickMedia
initiated the transaction.
Harris, N.A. was the lead arranger on the debt financing for the
acquirers.

About SkyMall
SkyMall, Inc. is a specialty publishing and marketing services firm
headquartered in Phoenix, Arizona. SkyMall produces a quarterly in-flight
publication, SkyMall, with an annual circulation of approximately 20 million
copies distributed in airplane seat pockets. SkyMall is a multi-channel,
direct marketer offering high-quality, innovative merchandise from top direct
marketers and manufacturers through its SkyMall catalog and web site,
skymall.com. The SkyMall catalog is seen by approximately 88% of all domestic
air passengers reaching more than 650 million air travelers annually. SkyMall
also offers turn-key merchandise and fulfillment solutions for loyalty
marketing programs.

About Spire Capital
Spire Capital Partners, L.P., established in April 2000, is currently
investing a $260 million private equity fund focused exclusively on the media,
communications and business services industries. Spire Capital’s Principals
have served as owners, managers, investors and advisors of companies in these
industries for over 20 years. Spire Capital’s diversified portfolio includes
holdings in the radio, publishing, cable, Internet content and infrastructure,
marketing, newspapers and information services sectors.

Greenspun Media Group
Greenspun Media Group is a diversified media, Internet, and broadcasting
group owned and controlled by The Greenspun Corporation and family located in
Las Vegas, Nevada. The Greenspun Corporation also controls and operates other
businesses in and around Las Vegas including real estate holdings in office,
retail and gaming, and a real estate development company. http://www.vegas.com/about

About ZelnickMedia
ZelnickMedia is a partnership of experienced media executives that owns
interests in and manages an array of media enterprises in recorded music,
publishing, catalog and online retailing, market research, CD manufacturing,
online games, and media-related software in the U.S., Europe and Asia. The
company’s holdings include interests in Time Life, Lillian Vernon, Columbia
Music Entertainment (CME) of Japan, UGO, Arkadium, National Lampoon, Naylor
Publications, and OTX, the online market research company.

SOURCE SkyMall, Inc.
Web Site: http://www.skymall.com