New York (May 9, 2008) - Adding to its growing roster of media properties, Manhattan Media today announced that it has acquired 02138, the award-winning lifestyle magazine for Harvard alumni, from Atlantic Media.

02138 becomes yet another high-end title under Manhattan Media's widening media reach; AVENUE, which the company purchased in 2002, boasts one of the wealthiest readerships of any magazine in the U.S. The seven-year old company also publishes seven newspapers in New York City and Albany, and two monthly magazines for upscale New York City families.

As part of the acquisition, Manhattan Media President and CEO Tom Allon also announced that the company is launching a new division, Ivy League Media, which will publish a series of like-minded magazines, web sites and social networking events targeting alumni from other Ivy League schools, beginning with Princeton and Yale in 2009, followed by Cornell, Dartmouth, University of Pennsylvania, Columbia, and Brown in 2010 and 2011.

Allon said the company will also increase 02138's frequency from quarterly to six times a year beginning in 2009. Ivy League Media will also launch social networking websites for each of the magazines, and host regular alumni events, such as reunions and networking nights.

"We're pleased to have 02138 join Manhattan Media's stable of luxury brands," said Allon. "The magazine has struck a nerve with Harvard alumni thanks to its lively, irreverent, sophisticated perspective, and we're confident that it's a model that will resonate with other Ivy League alumni."

Founded in 2006 by Harvard alum Bom Kim, 02138 boasts a readership of 100,000 alumni and has garnered national media attention, especial for its annual "Harvard 100" edition, which ranks the university's top 100 living alumni. Last year, Al Gore was ranked #1, ahead of President George Bush, and the year before, Bill Gates was ranked #1. Kim will remain with the magazine as Publisher.

"I'm delighted that we've found a new home at Manhattan Media and I'm excited to join their management team," said Kim. "The re-launch of our magazine, along with the build out of a social networking website and live events is a dynamic model that will be scalable to other Ivies. The alumni of these eight universities are a very desirable demographic for advertisers and sponsors -- the power and financial elite."

"It has been a great experience working with Bom Kim on the launch of the 02138 brand and we wish him and his team well as 02138 moves onto its next phase with Manhattan Media," said Atlantic Media Chairman David Bradley. "Manhattan Media is exactly the right owner for 02138 - smart, aggressive and innovative - and we believe that this is the perfect home for this brand."

About 02138

02138 is the award-winning lifestyle magazine for a unique community of highly educated, affluent, and influential readers-Harvard alumni. Stylish as it is sophisticated, irreverent as it is intelligent, 02138 engages the interests and passions of this coveted audience. From commerce to comedy, medicine to M&A, public service to private jets, each issue looks at news and culture through the Harvard lens.

About Manhattan Media

Manhattan Media is a leading community publisher. It owns magazines, newspapers, websites and live events that have a combined readership in Manhattan that is greater than the New York Times, Wall Street Journal, New York magazine, New York Post or New York Daily News. For more information, go to www.manhattanmedia.com.

Read the New York Times article here.