Wicks Business Information Acquires Dow Jones Financial Publishing Corporation From Dow Jones & Company
New York City, NY January 14, 2000: Wicks Business Information, LLC (WBI) announced today that it has closed its acquisition of Dow Jones Financial Publishing Corporation from Dow Jones & Company, which was announced last month. The group of acquired publications includes the magazines Investment Advisor, Asset Management and Property, and the newsletter Realty Stock Review. Terms of the sale were not disclosed.
The business will be named the Investment Advisor Group and will function as an operating unit of the Financial Information Division of Wicks Business Information. The Investment Advisor Group serves investment management professionals in the private and institutional markets with various products including magazines, seminars, a newsletter, custom publishing and related internet sites.
Investment Advisor magazine is the flagship publication of the group serving financial planning professionals who advise wealthy individuals, as well as wealth managers who oversee significant private portfolios. Asset Management is targeted to sophisticated financial investors and professional investment managers. This publication will become a regular supplement to Investment Advisor magazine. Property and Realty Stock Review are the authoritative sources on real estate investment trusts (REITs) and commercial real estate markets.
In announcing the acquisition of the company, Douglas J. Manoni, President and CEO of Wicks Business Information, said, "We are very pleased with our acquisition of this strong franchise. There are numerous market opportunities that surround the core business and we are eager to move forward on several planned initiatives. Additionally, this acquisition provides Wicks with a solid platform in the financial market."
The day-to-day operations of the business will be overseen by Robert Clark, who has been promoted to Editorial Director and Publisher from the role of Editor-in-Chief. Manoni added, "We have been very impressed with Bob throughout our review and we share a common vision for the business." Robert Clark will report to Maile Hulihan, Senior Vice President and Group Publisher of Wicks Business Information.
Eric Haines has been appointed to the role of Associate Publisher and will be responsible for advertising sales reporting to Robert Clark. The business will remain at its current location in Shrewsbury, New Jersey.
James H. Ottaway, Jr., Senior Vice President of Dow Jones & Company, said the company decided to sell Dow Jones Financial Publishing Corporation as part of its program of divesting non-core assets.
Wicks Business Information, an affiliate of The Wicks Group of Companies, L.L.C., operates in the business-to-business information services market and is concentrating on growth by acquisition and development of business magazines, newsletters, conferences and specialized information products. Last year, WBI acquired Treasury & Risk Management magazine from The Economist Group and Briefings Publishing Group from Pearson Publishing. Wicks Business Information is located in Fairfield, CT. The Wicks Group of Companies is a New York-based investment firm specializing in communications, information and media businesses.