CAHNERS SELLS TRAVEL GROUP TO BOSTON VENTURES.Boston Ventures (Boston, MA), an equity firm focusing on the media, entertainment and communications industries communications industry, broadly defined, the business of conveying information. Although communication by means of symbols and gestures dates to the beginning of human history, the term generally refers to mass communications. , has agreed to acquire the Cahners Travel Group (Hasbrouck Heights Hasbrouck Heights (hăz`br  k), borough (1990 pop. 11,488), Bergen co., NE N.J., a residential suburb adjoining Hackensack; settled c.1685, inc. 1894. , NJ) from Cahners Business Media (New York New York, state, United StatesNew York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ). No terms were given. The deal is expected to close by the end of September. The Cahners Travel Group (CTG CTG Cartridge CTG Center for Technology in Government (SUNY, Albany, New York) CTG Center for Technology in Government CTG Computer Task Group (IT consulting company; Buffalo, NY, USA) ) is composed of worldwide directories, periodicals and destination information guides for the travel and hospitality industries. CTG's seven directories include the "Hotel Travel Index," "Official Hotel Guide," "Official Meetings Guide" and its international edition, "Official Cruise Guide" and "Business Travel Planner." The unit's three periodicals include Travel Weekly, TravelAge West and Meetings & Conventions. CTG also produces two information services See Information Systems. , including "STAR Service" and "Weissman Travel Reports," that provide information on travel destinations. Cahners announced its intention to sell CTG in August 2000 "as part of its ongoing effort to focus growth in strategic market sectors," Cahners said. Since the beginning of 2001, Cahners has been involved in five other sales. In January, Cahners sold 11 magazines, including Dairy Foods, Food Engineering and Prepared Foods, to Business News Publishing (Troy, MI). In March, Cahners sold three automotive titles, including Automotive Marketing, to Advanstar (Cleveland, OH), and four automotive and trucking titles to Randall Publishing (Tuscaloosa, AL). In April, Contractor magazine was sold to Penton Media Penton Media, Inc. (OTC: PTON.OB), founded in 1892, is a diversified business-to-business media company. Penton Media is a mass media corporation that publishes and produces over 40 magazines, 80 trade shows, and 47 web sites. (Cleveland, OH) and in May Cahners sold three metal magazines to Metal Bulletin Ltd. (London). |
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