Big news for my brother and his company! The press release was just issued by HowStuffWorks today announcing that "entities owned by Carl Icahn have made a significant investment of growth capital into the company." The press release goes on to say . . .
In accordance with that plan, the company also announced today that it has formed a strategic alliance with Publications International, Ltd. (PIL), a 30- year-old publisher of mass-market books which produces over 600 new titles annually. Through this alliance, HowStuffWorks has exclusive online rights to the vast PIL product library of over 10,000 books and 1 million images, access to over 350 writers and editors and all future content. The PIL library includes titles in most popular consumer categories such as home improvement, sports, "how-to," medical and health, automotive, home design and cooking.
Additionally, HowStuffWorks has become the exclusive online publisher for two leading trusted sources of consumer reviews and ratings, Mobil Travel Guide® and Consumer Guide®. Mobil Travel Guide, owned by Exxon Mobil Corporation and licensed to PIL, is the originator of the prestigious Mobil Five Star Rating System® and offers independent, expert reviews on more than 15,000 lodging and dining establishments. Consumer Guide, established in 1967 and a division of PIL, is the leading provider of thousands of objective reviews and ratings of consumer products as well as new and used automobiles."
My brother is quoted in the press release as saying:
"HowStuffWorks, an established and trusted information source, is the ideal online platform for us to digitize our books and showcase our content to a much broader and, at the same time, more targeted audience," said Richard Maddrell, President of Publications International, Ltd. "We're taking a unique approach to book digitization by transforming our comprehensive inventory of content into individual articles that are designed and presented specifically for online consumption. Also, since HowStuffWorks is acquiring the exclusive digital rights to all of our content and images, copyright and trademark issues will not be an issue. We'll ultimately have hundreds of thousands of pieces that not only cover categories with mass-market appeal but also perfectly complement HowStuffWorks articles and seamlessly add value to the user experience."