NewBay Media Acquires IMAS Publishing, Parent of TV Technology
IMAS Publishing, publisher of TV Technology and other professional audio and video magazines, newspapers and online content, has been acquired after 31 years of ownership by founder Stevan Dana.
Here’s the full text of the announcement:NewBay Media Acquires IMAS Publishing
Addition of Properties Further Strengthens NewBay’s Reach in the Video/Broadcast and Audio Markets
NEW YORK, NY (July 5, 2007) -- NewBay Media LLC (“NewBay”) announced that it has acquired the assets of leading broadcast and professional audio trade publisher IMAS Publishing (“IMAS”), including the print and electronic properties of such well-respected brands as TV Technology, Radio World, Pro Audio Review and Audio Media among others. The IMAS titles will add considerable depth and breadth to NewBay’s existing professional audio and video divisions, offering unparalleled resources to readers, marketing partners, and advertisers in the U.S. and around the world.
In addition to adding these trusted brands, the acquisition strengthens NewBay’s global reach. IMAS publications reach professionals in six languages and over 100 countries worldwide with regional content and news from around the globe.
“IMAS and NewBay fit wonderfully together — we welcome the IMAS team to NewBay,” states NewBay CEO Steve Palm. “The combination of NewBay and IMAS creates a clear leader in the audio, video, and broadcast markets and the ability to offer an ever-growing array of media and information solutions to our readers, marketing partners and advertisers — both here in the U.S. and around the world. IMAS’s global publishing and distribution capabilities offer us exciting new opportunities to expand NewBay’s brands internationally.”
Stevan B. Dana, founder and president of IMAS, states that when he decided to sell his business after more than 30 years, he was intent on finding a buyer who could build the brands in the new media age. According to Dana, “NewBay has both the resources and the drive to make IMAS’s industry-leading publications even stronger.”
IMAS CEO Carmel King adds, “The IMAS team is excited about not only being part of a larger organization, but one with a similar mindset — build great publications, innovate and lead our categories. It’s a great fit.”
“I personally look forward to working closely with Carmel King, Eric Trabb and the entire IMAS team to build NewBay’s capabilities online, in person, and in print,” Palm states. “The combination of these two talented organizations is very exciting.”
Under the terms of the transaction, NewBay acquires IMAS’s
award-winning brands, publications and websites, including TV Technology, TV Technology Europe, TV Technology Latin America, TV Technology Asia Pacific, Radio World, Radio World Engineering Extra, Radio World International, Radio World Francophone, Radio World Latin America, Pro Audio Review, Audio Media and Broadcast & Production Italy, as well as the contracts for the official show dailies for NAB and NRB. NewBay Media will retain IMAS’s headquarters in Falls Church, VA, as well as the company’s offices in the U.K. and Italy.
About NewBay Media LLC
NewBay Media is an integrated media company serving the professional audio, systems integration, video/broadcast, musical instrument and K–12 education technology vertical markets in print, online and in person. NewBay provides communication solutions to readers and marketers through 14 award-winning publications, 40 websites, 6 events and 5 show dailies. NewBay reaches more than 3 million dedicated professional/enthusiast readers each month.
NewBay’s properties include such well-established brands as Pro Sound News, Guitar Player, Bass Player, Systems Contractor News, Keyboard, EQ, Residential Systems, Rental & Staging Systems, Videography, DV, Government Video, Television Broadcast, Digital Cinematography, Technology & Learning, DV Expo, and Government Video Technology Expo. Additional information on NewBay can be found by visiting www.nbmedia.com
NewBay is an affiliate of the Wicks Group of Companies, L.L.C. (www.wicksgroup.com), a New York-based private equity firm focused on selected segments of the communications, information and media industries.