Economist Group completes sale of the Journal of Commerce Group. (Acquisitions).The London-based Economist Group and Commonwealth Business Media Inc. last month completed the sale of the assets of the Journal of Commerce Group to Commonwealth. The Economist Group will receive cash and a stake in the growing Commonwealth business. The Journal of Commerce Group is a pre-eminent supplier of information to trade and transportation industries in the U.S. and internationally. Its activities include magazine and database publishing Using desktop publishing to produce reports of database contents. See desktop publishing. with associated web sites and directories. The brand is represented by JoC Week magazine, joc.com, the PIERS database and directories business, and Traffic World, Air Cargo air cargo: see aviation. World, Florida Shipper SHIPPER. One who ships or puts goods on board of a vessel, to be carried to another place during her voyage. In general, the shipper is bound to pay for the hire of the vessel, or the freight of the goods. 1 Bouv. Inst. n. 1030. , Gulf Shipper, and Shipping Digest magazines. The Economist Group was advised in the transaction by The Jordan, Edmiston Group Inc., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . Helen Alexander, chief executive of The Economist Group, said, "The Economist Group will continue to focus on its strategy of developing media brands for an international audience, but we are very pleased to be maintaining a relationship with Commonwealth. "The JoC and Common-wealth bring together an attractive combination of diversified revenue streams and a complementary portfolio of number-one brands, which provide stability in the present and promise much for the future." Alan Glass, chairman, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Commonwealth, said, "To put it simply, the JoC and Commonwealth are a perfect match. Combining the company's highly respected titles with our own market-leading product line means we will be able to effectively serve the entire international trade and transportation market in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . "Additionally, I'm delighted to continue my work with the highly focused professionals at The Journal of Commerce--all of whom I've found to be extremely knowledgeable and with a vision similar to my own for the future of the JoC brand." |
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