Contemporary Media, Inc. (CMI), the publisher of Memphis Magazine, the Memphis Flyer, and assorted specialty publications, has announced changes within its ownership group.
Both Jack Belz and the late Ira Lipman were original investors when Memphis Magazine was purchased from Robert Towery in 1985. Jack Belz has retired from the group and has sold his ownership interest back to the company. Ira Lipman’s shares, which had been distributed to his sons, Joshua, Benjamin, and Gustave, have also been purchased by CMI.
“This ownership group has been together for almost 40 years, which is quite remarkable,” said board president Ward Archer, Jr. “We are grateful for their support for so many years.”
The intent of the original group — which also included Henry Turley, Ward Archer, Sr., Kate Gooch, and Lucius Burch — was to ensure that Memphis Magazine continue to publish the stories and celebrate the culture of our unique community. It was a civic endeavor then, and that spirit continues to this day. As the company grew, it launched the Memphis Flyer, which was the brainchild of Kenneth Neill, who retired from CMI in 2019.
At the same time, CMI is pleased to announce that Gayle Rose has joined the ownership group, which today includes Henry Turley, Kate Gooch and Ward Archer. Rose is well known in the Memphis community for her work on the original drive to recruit the Grizzlies, her leadership in creating a viable future for the Memphis Symphony Orchestra with the University of Memphis, her leadership role with the Institute for Public Service Reporting, and her work on Team Max, which honors the life of her son, Max Rose.
Rose shared why she was moved to join CMI’s board: “Independent journalism is not just essential — it’s sacred to a functioning democracy. I’ve supported the Institute for Public Service Reporting because I believe in truth-telling that holds power to account. Joining CMI is a natural extension of that commitment. With its reach, infrastructure, and legacy, CMI is poised to deepen its impact — and I intend to be a hands-on, vocal shareholder helping to grow that voice.”
Anna Traverse is the CEO of CMI. In that role since 2019, Traverse, while also serving as editor of Memphis Magazine, has ushered the company into the digital age while maintaining its strong print presence. “Our paid circulation of the print issue of Memphis Magazine is actually growing,” said Traverse. “The Memphis Flyer, which is free to read for all, is published electronically and in print, which is an exception in today’s electronic news sphere.” According to Traverse, “The Memphis Flyer now has the largest print distribution of any publication in Memphis, with a pickup rate that is consistently between 92 percent and 95 percent. Combined with its digital readership, the Memphis Flyer is the most accessible news source in Memphis.”
