NewBay Media Buys IMAS Publishing
NewBay Media announced today that it has acquired Falls Church, Virginia-based IMAS Publishing, a 30-year-old broadcast and professional audio trade publisher.
NewBay, already targeting the professional audio, video/broadcast and musical instrument markets, was particularly interested in IMAS’s international reach;the company’s 12 publications target customers in six languages in over 100 countries. "IMAS’s global publishing and distribution capabilities offer us exciting new opportunities to expand NewBay’s brands internationally," said NewBay CEO Steve Palm in a statement.
NewBay, formed by private-equity firm The Wicks Group in September 2006 from the $50 million purchase of CMP’s Entertainment Group assets, will keep IMAS’s headquarters in Falls Church and maintain the company’s offices in the U.K. and Italy. Media bankers DeSilva + Phillips represented IMAS in the transaction.