Daily Mail Among Investors Reviving Tiger Beat Mag

New York Times: A group of 17 investors has raised $2 million to buy and revamp Tiger Beat, the magazine whose flattering photos of young pop stars and actors made it a favorite of teenage girls. The goal: turn the glossy magazine into a media empire. Tiger Beat’s new backers include the banker and entrepreneur Mark Patricof; the television host and comedian Nick Cannon; the basketball star Kevin Durant; Steve Tisch, a film producer and the chairman and EVP of the New York Giants; and the Daily Mail. “It’s a great investment,” said Jon Steinberg, CEO of Daily Mail North America. “This is not a vanity investment.”