SourceMedia Buys Insurance Broadcasting
Meanwhile, NewBay Media acquires AV trades from Penton.
SourceMedia adds to its portfolio with the acquisition of Insurance Broadcasting, a provider of online news and live events for employee benefits professionals. Insurance Broadcasting will be integrated with SourceMedia’s Employee Benefit Adviser brand.
The acquisition brings 184,000 new professionals to SourceMedia’s Employee Benefits Group. Insurance Broadcasting founder and CEO Walk Podgurski will continue to serve as an executive with SourceMedia.
Last summer, SourceMedia consolidated its publishing operation from four units to two, with one unit consisting of banking and capital markets while the second is made up of the professional services and technology groups.
NewBay Buys Trades From Penton
Meanwhile, NewBay Media announced it has acquired several products serving the pro audio and video and AV production markets from Penton. Included in the deal are Mix, which covers studio recording; Electronic Musician; Radio, which serves radio engineers, Sound & Video Contractor; and DigitalConterntProducer.com,.
The deal is NewBay’s fourth major acquisition since 2006, which include buying titles from the CMP Entertainment and Media division in September 2006, from IMAS in 2007 and from Reed Business Information in 2009.