12.01.2009 10:40 AM
NewBay Acquires Broadcasting & Cable
NewBay Media, parent of TV Technology, made a big splash in industry publishing circles this morning, announcing the acquisition of three trade publications including a legacy title that has a long and prominent history in broadcasting.
The company has acquired Broadcasting & Cable, Multichannel News and This Week in Consumer Electronics, also known as TWICE. Reed Business Information-US is the seller.
“The addition of these three powerful brands extends NewBay Media’s significant reach in the broadcast television and consumer electronics markets,” the company stated.
Broadcasting & Cable has been a name in the broadcasting industry for more than seven decades. According to a history of B&C at the Library of American Broadcasting Web site, the first issue of what was first called “Broadcasting” was published on Oct. 15, 1931. It was founded by Sol Taishoff and Martin Codell. The magazine became Broadcasting/Telecasting in 1945; the name changed back to Broadcasting in 1957. In 1993 it became Broadcasting & Cable. It was sold in 1986 to Times Mirror and five years later to Reed Business.
Multichannel News serves the cable-television business. TWICE is a business newspaper for the consumer electronics/computer/major appliance industries.
The announcement was made by NewBay CEO Steve Palm and Reed Business Information-US CEO John Poulin.
“With this acquisition, NewBay adds significant depth and breadth to its existing portfolio of broadcast … (and) consumer electronics properties,” Palm stated. Those include TV Technology, Television Broadcast, Radio World and Residential Systems.
Terms were not given in the announcement.