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Beringer Capital Acquires @Adweek in @Mediabistro Revolving Door Deal

Beringer Capital Acquires @Adweek in @Mediabistro Revolving Door Deal

Beringer Capital acquired New York-based media and advertising trade publication Adweek from Mediabistro Holdings. The Adweek Blog Network comprising AgencySpy, FishbowlNY, FishbowlDC, GalleyCat, LostRemote, PRNewser, SocialTimes, TVNewser and TVSpy, is also included in the buyout. Founded in 1978, Adweek’s main competitor is Advertising Age or Ad Age, which was founded in 1930 in Chicago after the Great Depression, and owned since then by Crain Communications Inc., a privately-held publishing conglomerate based in Detroit, Michigan. Adweek’s sale to Beringer follows a series of cost-cutting measures, compounded by short-lived corporate reorganizations and ownership changes, while facing a challenging and fast-changing media landscape. In 2014, Prometheus Global Media, a subsidiary of private equity firm Guggenheim Partners, acquired Mediabistro’s editorial properties for $8 million from Mecklermedia (formerly Mediabistro Inc. and WebMediaBrands Corp.). The acquisition did not include Mediabistro’s trade show operations, which were retained by Mecklermedia until it was liquidated in December 2015. In January 2015, Adweek and Film Expo Group were merged into Mediabistro to form a new Prometheus subsidiary, Mediabistro Holdings. At the same time, its blogs were re-launched under the new “Adweek Blog Network” banner, and all of Mediabistro’s social media-oriented blogs were merged into SocialTimes. In December 2015, in response to losses across Guggenheim Partners, the company announced that it would spin out its media properties to a group led by former executive Todd Boehly, including the Hollywood Reporter-Billboard Media Group, Mediabistro, and Dick Clark Productions. “We are committed to providing Adweek with the support they need to exceed the expectations of our readers, clients and partners,” said Brian F. Martin, co-founder of Beringer Capital and newly appointed chairman of Adweek. James Cooper, the brand’s editorial director, will continue in his role “The digital landscape is ever-evolving, and it’ll be exciting to work with a partner who shares our passion for the future of media,” he said. “Over the past four decades, Adweek has continued to evolve along with the industry in which it serves. We are truly excited at the prospect of what the next decade will bring,” stated Perry Miele, chairman of Beringer Capital. Beringer Capital invests in digital media and marketing services industries. The firm partners with founders and management teams to build significant businesses through a combination of organic growth and add-on acquisitions. Photo: More Than a Spokeswoman: How Kerry Washington Is Forging True Partnerships With Brands | Adweek. April 3, 2016, Cover Story.]]>

RFE Acquires Path to Purchase Institute, Publisher of Shopper Marketing

RFE Acquires Path to Purchase Institute, Publisher of Shopper Marketing

Shopper Marketing magazine, a monthly trade publication covering in-store and digital retail marketing topics, will continue to champion shopper-centric thinking to help define the ongoing evolution of consumer marketing and the overall shopping experience. It will operate in close collaboration with Stagnito Business Information + Edgell Communications, also recently acquired by RFE. The combination of these organizations under the RFE umbrella establishes a comprehensive and fully integrated suite of digital and print media, events, data/information services, research services and professional training. It creates the largest collective audience of influencers and decision makers, across functions and markets, encompassing the $750 billion retail/CPG marketplace. The brand strategy for businesses and assets acquired by RFE will be introduced in coming months. Both entities will operate independently under the direction of an executive board led by Executive Chairman Alan Glass. Peter Hoyt, CEO and Executive Director of the Path to Purchase Institute, and Kollin Stagnito, CEO and President of Stagnito + Edgell, will each report to Glass. “The Path to Purchase Institute has earned industry-wide respect by helping its members and the industry at large understand insights and strategies for better connecting with shoppers,” said Glass. “The alignment of the Path to Purchase Institute with Stagnito + Edgell cements our position as the definitive business intelligence resource for the retail and consumer goods industries.” “This organization has been my life’s work, or, as we call it, Phase One: Laying the Foundation,” said Hoyt. “Its alignment with RFE/Stagnito + Edgell provides us rocket fuel as we enter Phase Two: Raising the Roof. In this phase, with our new partners, we intend to build a model industry community that will last for the ages. I can’t wait to get started.” RFE Investment Partners is a private equity investor with more than 30 years of experience investing in growth companies in partnership with strong management teams. The Path to Purchase Institute was represented by Petsky Prunier LLC, one of the leading investment banks in the technology, media, marketing, eCommerce and healthcare industries.]]>