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 visiting www.nbmedia.com.