M. Lee Smith buys out major competitor, The Law Letters Inc.

M. Lee Smith Publishers, which publishes a state-specific employment law letter for each of the 50 states, has acquired The Labor Letters Inc., a Hermosa Beach, Calif., corporation that produces 26 state-specific employment law newsletters, conferences and seminars. Full terms of the acquisition were not disclosed.

The acquired newsletters will be assimilated into Smith's own. "Even before this acquisition, M. Lee Smith Publishers was the nation's largest provider of state-specific employment law content for human resource professionals," chairman and publisher M. Lee Smith said. "This acquisition solidifies our company's role as the dominant state employment law provider for the HR market. It allows us to fold Labor Letters subscribers into our service in 26 states."

Joseph Beachboard, president and CEO of The Labor Letters, will continue to serve in two capacities under the new arrangement. He will be the publisher of California Employment Law Letter, assisted by two editors and one editorial assistant formerly employed by him. He will also serve as the program director for the conferences and seminars formerly sponsored nationwide by The Labor Letters and now to be sponsored by Smith.

Alan F. Pacela of Publishing Management Co., represented The Labor Letters Inc. in the deal, and Mark Young reported that Citizens Bank provided funding for Smith's purchase.