The transaction was conducted through a stock transfer, and terms were not disclosed.
Based in Indianapolis, the Promotion Company currently produces around 40 annual events in 50 markets across the U.S., including enthusiast gatherings like the Hot Bike Tour, Off-Road Expo, and Monster Truck Nationals, among others. There are a number of Bonnier brands that fit with the Promotion Company’s existing portfolio, including ATV Rider, Cycle World, Dirt Rider, Motor Cyclist, Motorcycle Cruiser, Sport Rider and Waterski. The companies have already been cooperating on Bonnier’s Hot Bike tour.
While currently focused on auto and bike enthusiast events, the Promotion Company’s assets could be deployed to support exposition and conferences centered around Bonnier’s other brands as well, including Field & Stream, Outdoor Life, Boating, Sailing World, Sport Fishing and Yachting, among others. Other Bonnier brands include Popular Science, Saveur and American Photo.
As print advertising revenue declines and the digital ad business remains uncertain, more publishers are turning to events, including trade shows and consumer exhibitions, to provide new revenue streams.
Earlier this month, UBM, a media and marketing company based in Britain, announced the acquisition of Advanstar, a marketing company based in California that produces trade shows, for $972 million, forming what will be the largest U.S. events organizer. Advanstar’s portfolio of events includes Magic, the huge annual trade show for the fashion industry in Las Vegas.