Cobert Report: Ex-Canon CEO, VSS Partner to Pursue Media Acquisitions
Former Canon Communications CEO William Cobert today announced that he has entered into a partnership with Veronis Suhler Stevenson relationship to acquire trade events, conferences, magazines and other b-to-b media opportunities.
Canon was a portfolio company of VSS from 1996 until its sale in 2005.
“We are very pleased to be working with Bill Cobert again,” VSS managing director Hal Breenberg said in a statement. “He is an outstanding executive and has proven himself as an operator who can successfully execute a ‘buy and build’ strategy. The experience and expertise of VSS, coupled with Bill’s know-how, should make a highly successful combination.”
Cobert is among a growing list of former trade media CEOs currently without magazine portfolios hunting acquisitions.
In May, Cobert formed new company called EBITDA Media seeking potential media buys. David Nussbaum, former CEO of Penton Media, announced in March he had teamed up with ABRY Partners to explore strategic investments (ABRY committed $100 million to Nussbaum). And Jim Casella, former CEO of Reed Business Information, now heads up Case Interactive.
VSS is an investor in Red 7 Media, the parent company of Folio: magazine.