Cahners purchases Television Asia for its entertainment group.NEWTON, Mass.--(BUSINESS WIRE)--Aug. 21, 1996--Cahners Publishing Co. has acquired Television Asia and other entertainment publishing assets from Partners in Media, an independent publishing company based in Singapore. Television Asia is the market-leading, controlled-circulation monthly magazine for broadcast professionals throughout Asia. Related assets include a Chinese-language quarterly, the annual Television Asia Guide to Cable and Satellite and the Asian Television Awards Asian Television Awards, an appreciation to recognize and reward programming and production excellence in Asian television industry. Held every December, the Awards draws about 1,400 entries each year from a wide range of broadcasters, including free-TV stations and pay-TV program. Cahners also has received a 1997 option to acquire Partners in Media's Asia Image, a publication covering Asia's production and post-production markets. Jonathan Hallett, managing director of Partners in Media, will join Cahners and remain with his staff in Singapore to operate Television Asia. The unit will become part of Cahners' Entertainment Group. "Partners in Media's publications are a natural fit for the Cahners Entertainment Group," said Bruce A. Barnet Barnet (bär`nət), outer borough (1991 pop. 283,000) of Greater London, SE England. Although mainly residential, manufactures there include automobile and aircraft parts, electrical components, and beverages. , Cahners' president and chief executive officer. "The acquisition of Television Asia provides us with a running start in the broadcast market in Asia." "We're delighted to become part of the foremost entertainment publishing group in the world," said Hallett. "Our new ownership will allow us to accelerate our expansion plans here in Asia and capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. the tremendous synergy that exists between our new family of market leading titles." Cahners is the pre-eminent information source for the entertainment industry. Its U.S. publications include Variety and Daily Variety, Broadcasting & Cable, Variety's On Production, Compact Variety CD-ROM CD-ROM: see compact disc. CD-ROM in full compact disc read-only memory Type of computer storage medium that is read optically (e.g., by a laser). and Tradeshow Week. Its international publications include Moving Pictures International, MPTV MPTV Multi-Program Television MPTV Material Provided to Vendor MPTV Mobile, Positional, TV and Voice and Broadcasting Cable International. Reed Elsevier, the world leading British-Dutch publisher and information provider of which Cahners is one unit, also publishes Encore in Australia. Reed Exhibition Companies, Cahners' sister Reed Elsevier company, produces numerous international entertainment industry trade shows, including Show Biz Expo, MIDEM, MIP MIP See: Monthly income preferred security and Broadcast Thailand in Asia; MIPCOM, MIP-TV in Europe. Cahners Publishing Co., a unit of Reed Elsevier Inc., is the publisher of more than 85 specialized business and professional publications as well as CD-ROM and online services. Cahners, headquartered in Newton, Mass., serves the vital information needs of over 5.6 million business managers and professionals around the world. In addition to its publications, Cahners also provides publication and industry-based research, economic forecasting economic forecasting Prediction of future economic activity and developments. Economic forecasts, which range from a few weeks to many years, are widely used in business and government to help formulate policy and strategy. , reprints, direct mail services, database marketing plus custom publishing projects in all its served markets. CONTACT: Variety Gerry Byrne For the footballer, see . Gerry Byrne, sworn in as a member of the PC at the age of 35, Byrne has been a MP in Canada since 1996 when, at the age of 29 he successfully ran, and won, in a byelection in the province of Newfoundland and Labrador. , 212/337-6930 or Jonathan Hallett (in Singapore), 65-223-8823 or Cahners Publishing Harry King, 617/558-4565 |
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