Access Intelligence Acquires Red 7 Media
With the deal, AI creates a new division combining the Folio: and min brands.
Rockville, MDâB-to-b media company Access Intelligence announced today the acquisition of Red 7 Media, owner of Folio: Magazine and several other leading media brands. With the acquisition, AI strengthens its position in the media communications markets and will create a new division combining the Folio: and min brands.
The new unit, AIâs media and event marketing group, will be led by Red 7 Media CEO Kerry Smith and his senior management team. Smith will continue in his role as president of the expanded Red 7 Media group and become a senior vice president of Access Intelligence.
âThe ability to round out our leading position in the consumer magazine market with Red 7âs events, online communities and a leading magazine while expanding into the dynamic events business is a truly exciting prospect for Access Intelligence, our employees and customers,â said Don Pazour, president and CEO of Access Intelligence.
Smith founded Red 7 Media in 2002 and grew the Norwalk, CT-based company into a market leader, attracting more than 7,000 executives and 500 sponsors to its events and more than 800,000 unique visitors to its Web sites.Â Other Red 7 brands include Event Marketer, Event Design, Audience Development, Expo and Best Events.
The Red 7 Media group will serve the media and events industries through conferences, consulting, magazines, newsletters and online communities. Together with AIâs positions in cable television programming, public relations, and digital graphics, this transaction, representing about a third of the company's revenue, makes Access Intelligence a major voice in media communications.
The acquisition marks Access Intelligenceâs continued investment in high-performing properties with engaged audiences and best-in-class products and services.
Smith noted that he has an existing relationship with Pazour through SISOâthe Society of Independent Show Organizersâand through Veronis Suhler Stevenson, the media-industry private-equity firm that has investments in both companies. âDonâs team and ours share a vision for creating high-value business resources around market-leading brands. Integrating Red 7 Media into Access Intelligence will provide Red 7 with deep resources and capabilities that will enable us to accelerate our growth strategies and better serve our customers and employees,â he said. âI couldnât think of a leader or company that would be a better fit for our brands, our vision, and our employees.â
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