Canadian private equity firm Beringer Capital has acquired Adweek, a New York-based source of news for marketing, media and advertising professionals. No financial terms were disclosed. Mediabistro Holdings LLC, a U.S. group of media and creative brands, was the seller. With the deal, Brian F. Martin, co-founder of Beringer, has been appointed Adweek’s chairman. Established in 1978, Adweek has been ranked within the top three most shared media content sources online. Toronto-based Beringer, an investor in digital media and marketing services, said it would provide the business with resources to expand its current editorial content.
Beringer Capital Acquires Adweek From Mediabistro Holdings
NEW YORK, July 18, 2016 /PRNewswire/ — Beringer Capital (http://www.beringercapital.com), a leading private equity firm focused on digital media and marketing services, announced today its acquisition of Adweek, the premier resource for news and insight in media, marketing, and advertising. The acquisition from Mediabistro Holdings also includes the nine industry blogs in the Adweek Blog Network: AgencySpy, FishbowlNY, FishbowlDC, GalleyCat, LostRemote, PRNewser, SocialTimes, TVNewser and TVSpy.
Following this acquisition, Beringer Capital will provide Adweek with the resources to expand its current editorial content, which is delivered online and across a weekly print magazine, mobile applications, daily newsletters, social media, original videos, events, and awards.
James Cooper, the brand’s Editorial Director, will continue overseeing Adweek’s editorial expertise and leadership. “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,” said Cooper.
“Adweek’s immense success and position as an industry leader is due to the magnificent work of its team,” said Brian F. Martin, Co-founder of Beringer Capital and newly appointed Chairman of Adweek. “We are committed to providing Adweek with the support they need to exceed the expectations of our readers, clients and partners.”
First published in 1978, Adweek is now one of the largest news sources in the media, marketing and advertising space. Adweek.com sees more than 6.5 million monthly unique visitors and has been ranked within the top three most shared media content sources online. With more than three times the readership of its closest competitor and a social media following of 1.9 million, Adweek is well positioned to capitalize on the digital evolution of the media landscape.
“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.
About Beringer Capital
Beringer Capital is a leading private equity firm that invests in the digital media and marketing services sectors. Beringer Capital partners with founders and management teams to build significant businesses through a combination of organic growth & add-on acquisitions.
For more information, please visit: http://www.beringercapital.com/
Adweek is the leading source of news for marketing, media and advertising professionals. It delivers insightful, forward-thinking content across various platforms, including a weekly print magazine, an iPad app, daily newsletters, social media, original videos, events and awards. Adweek is a must-read for CMOs, creatives, media buyers, content creators, agency heads and anyone looking to stay informed about the digital media landscape.
Photo courtesy of Mediabistro Inc