NewBay Buys Broadcasting And Cable Magazine
December 1, 2009 at 8:05 AM (PT)
REED BUSINESS INFORMATION-U.S. has sold BROADCASTING AND CABLE magazine and sister trades MULTICHANNEL NEWS and TWICE (THIS WEEK IN CONSUMER ELECTRONICS) to NEWBAY MEDIA for an undisclosed price. NEWBAY is the publisher of RADIO WORLD, TV TECHNOLOGY, VIDEOGRAPHY, GUITAR PLAYER and several other trades serving the TV, music, professional audio, AV/electronics and K-12 education 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," said NEWBAY CEO STEVE PALM. "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," he added, "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," said REED BUSINESS INFORMATION-U.S. 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."