NewBay Media Acquires Broadcasting & Cable, Multichannel News, and Twice From Reed Business Information
NEW YORK, NY (December 1, 2009) -- NewBay Media LLC announced that it has acquired Broadcasting & Cable, Multichannel News, and This Week in Consumer Electronics (TWICE) from Reed Business Information-US. Each title will continue to be published as part of NewBay's line of print, online, and in-person products and services.
The addition of these three powerful brands extends NewBay Media's significant reach in the broadcast television and consumer electronics markets.
Broadcasting & Cable and Multichannel News serve the television industry with respected, industry-leading web sites, weekly print publications, daily e-newsletters, and events. Broadcasting & Cable covers the broadcast, cable, and syndication markets, while Multichannel News focuses on programming, marketing, finance, and more for the cable and telecommunications industries.
TWICE is the leading business trade periodical for retailers of consumer electronics, serving the market with a web site and a bi-weekly print publication, as well as daily and weekly e-newsletters.
"We're truly excited to have the opportunity to work with this talented team and to have these market-leading brands join the NewBay family," states Steve Palm, CEO, NewBay Media. "This acquisition further demonstrates NewBay's commitment to our goal of delivering value to our advertisers, readers, and partners in these critical markets.
"With this acquisition," continues Palm, "NewBay adds significant depth and breadth to its existing portfolio of broadcast properties, including TV Technology and Television Broadcast, and consumer electronic properties, including Residential Systems."
"We are pleased that our valuable brands have found a great new home with NewBay Media," says Reed Business Information-US CEO John Poulin. "We're certain that these titles will thrive under Steve Palm's capable and experienced management team. We wish them much success ahead."
Reed Business Information-US and its parent company, Reed Elsevier, were represented by The Jordan, Edmiston Group, Inc., a New York City-based investment bank that specializes in media, information, marketing services and related technologies.
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About NewBay Media LLC
NewBay Media's market leading brands are centered on five vertical markets -- Pro Audio, Broadcast & Video, Musical Instruments, AV/Consumer Electronics and K-12 Education. NewBay publishes and produces more than 40 publications and show dailies, 50 websites, 30 daily and weekly E-Newsletters, three Expos and more than 50 custom publishing efforts, annually. NewBay reaches more than three million readers in print and one million online and in person -- around the world in more than 100 countries. Additional information on NewBay can be found by visiting www.nbmedia.com.
NewBay is an affiliate of the Wicks Group of Companies, L.L.C. (www.wicksgroup.com), a New York-based private equity firm focused on selected segments of the communications, information and media industries.
About Reed Business Information-US
Reed Business Information-US (www.reedbusiness.com/us) is a leading business-to-business information provider of publications and web sites, as well as custom publishing, directories, research and direct marketing lists. Reed Business Information-US is part of Reed Elsevier (NYSE: RUK and ENL), a world leading provider of professional information and workflow solutions in the Science, Medical, Legal, Risk Management and Business sectors.