Bobit Business Media Sells Automotive Aftermarket Division

Torrance, Calif.-based Bobit Business Media has sold its automotive aftermarket division, consisting of two controlled-circulation magazines as well as a paid membership program, to 10 Missions Media, a St. Paul, Minn.-based publisher of five B2B publications serving various segments of the automotive industry. Included in the sale are Auto Service Professional magazine—a bimonthly with a print circulation of 130,000, according to its media kit, which would make it the largest title in 10 Missions' portfolio by that metric—as well as 100 year-old Modern Tire Dealer magazine, a monthly with 35,000 qualified print subscribers, and the Dealer Strategic Planning Group, a peer membership and training platform for tire dealers. Bryce Evans, VP of content and events at 10 Missions Media, declined to share the financial terms of the deal, but tells Folio: that the acquired properties will continue to operate out of their current location in Uniontown, Ohio and that the existing teams will remain in place, adding that 1o Missions plans "to keep the publications running as is." In a press release, Greg Price, publisher of both Auto Service Professional and Modern Tire Dealer at Bobit Business Media, called the sale "an exciting new opportunity for our publications," noting the "numerous benefits shared across all our brands in the 10 Missions Media family.” “Adding such well respected and trusted brands to our mix not only allows us to expand our reach, now covering the... Continue reading at 'Folio Magazine'

[ Folio Magazine | 2020-06-22 15:09:13 UTC ]
News tagged with: #financial terms #current location #existing teams #press release #glossy magazine

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