• by Joe Mandese  @mp_joemandese, March 1, 2005

Liquor marketers have been a sustaining force for many hip, urban magazine aimed at young adults, now one of the liquor industry's biggest moguls is launching his own magazine publishing company. Sidney Frank, who sold the ultra hot Grey Goose Vodka brand for $2.3 billion, Monday said he has acquired Travel Savvy magazine and formed Frank Media LLC, a new division that also plans to launch a new monthly luxury lifestyle magazine in the fourth quarter.

The as-yet-unnamed title, which will be developed in part through the acquisition of existing lifestyle publications in a "variety of luxury categories," will focus "an eclectic set of high-end categories, exploring topics" including destinations, dining, fashion, sports and fitness, and entertainment, the company said.

Editorial, advertising and circulation staff from magazine acquisitions will be used to create the team for the new magazine along with hires from an array of different media categories. Frank implied the magazine's focus would create a unique new niche in the upscale lifestyle category.

"Right now there's no single lifestyle publication that provides a reliable guide to the finest of everything," Frank stated. "Its no secret how I feel about lists, I love them! Every time one of my brands makes it onto a Best of the Best' list it provides a lift to the whole company."

While details of the venture were sketchy, Frank said he named publishing veteran Steven Schragis publishing director, and that he was still in the market to acquire established magazines and "luxury lifestyle" newsletters.

Travel Savvy, which debuted in September 2003, is aimed at the 27- to 55-year-old set and has a circulation of 135,000.