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NewBay Media Acquires TWICE, Other RBI Titles

New York – NewBay Media announced it has acquired TWICE, Multichannel
News and Broadcasting & Cable from Reed Business Information-U.S.,
effective today.

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, the company said in a statement.

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

“From the quality of their publications, the knowledge and
background of their executives, and obvious synergy, Steve Smith, myself and
the rest of the TWICE staff believe this will be a perfect match,” said Marcia
Grand, publisher of TWICE.

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.

“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,”
stated 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,” continued 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-U.S. and its parent company, Reed
Elsevier, were represented by The Jordan, Edmiston Group, a New York City-based
investment bank that specializes in media, information marketing services and
related technologies.

NewBay Media’s market leading brands are centered on five
vertical markets – pro audio, broadcast and video, musical instruments, A/V-consumer
electronics, and K-12 education. NewBay publishes and produces more than 40 publications
and show dailies, 50 Web sites, 30 daily and weekly e-newsletters, three Expos
and more than 50 custom publishing efforts, annually. NewBay reaches more than 3
million readers in print and 1 million online and in person – around the world
in more than 100 countries. Additional information on NewBay can be found by