Anil Narang and Carl Wistreich—chairman and CEO, respectively, of AC Business Media—have sold their majority stake in the Wisconsin-based trade magazine publisher to Florida-based private equity firm Boyne Capital, the two sides announced Thursday. Concurrent with the sale, former Grand View Media exec Barry Lovette is joining ACBM as its new CEO, effective immediately. Terms of the deal were not disclosed. "AC Business Media is a market leader that is poised for future growth," said Lovette in a prepared statement, indicating that Boyne intends to invest significantly in ACBM's existing portfolio, which consists of ten b2b magazines as well as a handful of trade shows and digital channels, mostly serving the heavy construction space. "We are excited to partner with Boyne and Barry," said Narang and Wistreich, who will remain with the company as minority owners, in a joint statement. "We are confident that they will take the best team in the industry and AC Business Media's outstanding customers to new heights." [caption id="attachment_134715" align="alignright" width="150"] Barry Lovette[/caption] The deal marks a return to publishing for Lovette, who up until 2015 had spent ten years as president and GM of b2b publisher Grand View Media, which was sold off in pieces by owner EBSCO Industries earlier this year. Lovette had spent the past two years as an executive partner at Salt Creek Capital, a San Francisco-based private equity firm. Representing AC Business Media in... Continue reading at 'Folio Magazine'
[ Folio Magazine | 2018-08-31 00:00:00 UTC ]
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Expect much higher capital expense costs and much greater need for in-house digital development skill. Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-05 00:00:00 UTC ]
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New York--There was a question during the morning session today at the Media Dealmakers Summit that crystallized what a lot of people are thinking about the future. "Are tablets and e-readers the future of media?" For George F. Colony, CEO of Forrester Research, the answer was simple: "Yes.... Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-04 00:00:00 UTC ]
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For many publishers, "e-commerce" means dabbling in sales of intellectual property, such as work plans (August Home Publishing, Hanley Wood). Continue reading at Folio Magazine
[ Folio Magazine | 2011-02-03 00:00:00 UTC ]
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By Joe Wilcox, Betanews Sadly, I must reaffirm my position stated during Apple CEO Steve Jobs' last medical leave, in January 2009: His health situation isn't a private matter, and, frankly, it's even less so now. The seeming suddenness of Jobs' more recent medical leave, which this time is... Continue reading at Betanews
[ Betanews | 2011-01-31 00:00:00 UTC ]
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Hearst Corporation has made a "binding offer" of 651m (£559m) for Lagardère's international magazine business, which includes a licensing agreement for fashion magazine Elle. Continue reading at Media Week
[ Media Week | 2011-01-31 00:00:00 UTC ]
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After a month of negotiations, Hearst has made an offer to buy 102 magazine titles from the French publisher. Continue reading at The New York Times
[ The New York Times | 2011-01-31 00:00:00 UTC ]
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Demand Media started trading on the New York Stock Exchange this week, making it one of the first IPOs of 2011 and certainly one of the largest media IPOs that will be seen all year. Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-27 00:00:00 UTC ]
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TED, known for exclusive events and online videos of speeches by celebrities like Al Gore, Bono and Malcolm Gladwell, plans to publish its own short ebooks, beginning with three that went on sale Wednesday. Continue reading at The New York Times
[ The New York Times | 2011-01-26 00:00:00 UTC ]
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Organic growth will be the primary driver of the media business over the next 12 to 24 months, according to nearly 500 executives in the information, marketing services and technology sectors, according to the first annual Media Growth survey from investment banker The Jordan, Edmiston Group and... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-24 00:00:00 UTC ]
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Ten years ago, as the prospect of monetizing Web sites started becoming a reality for publishers, different departments butted heads over prime real estate: editorial wanted it for content; sales wanted it for advertising; marketing wanted it for promotion. Today, as the emphasis shifts away... Continue reading at Folio Magazine
[ Folio Magazine | 2011-01-20 00:00:00 UTC ]
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Sly Bailey, the chief executive of newspaper publisher Trinity Mirror, has issued cutting criticism of the culture secretary Jeremy Hunt's understanding of the full media issues regarding News Corporation's relationship to BSkyB. Continue reading at Media Week
[ Media Week | 2011-01-19 00:00:00 UTC ]
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