Technology and broadcast business publisher NewBay Media will buy Broadcasting & Cable, Multichannel News and This Week in Consumer Electronics (TWICE) from Reed Business
Information-US.
Reed Business has been shopping the titles for nearly a year. The price was not disclosed.
The deal extends NewBay Media's reach into the broadcast arena.
The
group owns various pubs, including TV Technology and Television Broadcast, as well as consumer electronic properties, including Residential Systems. Overall, it has some 40 titles in the
professional audio, broadcast and video, musical instruments, AV/consumer electronics and K-12 education areas.
Steve Palm, CEO, NewBay Media, stated: "This acquisition further demonstrates
NewBay's commitment to our goal of delivering value to our advertisers, readers, and partners in these critical markets."
advertisement
advertisement
Business-to-business publishing has been hit with steep advertising
declines over the past year, anywhere from 30% to 40% in many cases.
Broadcasting & Cable and Multichannel News serve the television industry with Web sites, weekly print
publications, daily e-newsletters and events. B&C focuses on the broadcast and syndication arenas, in addition to cable; Multichannel News targets cable programming, technology and
marketing. TWICE serves consumer electronics retailers.
The venerable Broadcasting & Cable started in 1931 as Broadcasting and covered the radio market. In the late 1980s,
Times Mirror bought the publication for $75 million. But some 10 years later, Reed bought the magazine for about half that price.