Travel Agent Magazine Sold to Advanstar Communications.NEW YORK--(BUSINESS WIRE)--Aug. 24, 1998-- Veronis, Suhler Represented United Media, Inc. as Seller Transaction Covers Travel Agent Trade Shows and Smart Fax as Well as Official Travel Industry Directory and Custom Publishing Unit Travel Agent Magazine, long a premier travel industry trade magazine and the dominant publication serving travel agents in the U.S., has been acquired by Advanstar Communications, a Cleveland-based business information provider and publisher of lodging and hospitality titles, including Hotel & Motel Management and Premier Hotels & Resorts. (Overall, Advanstar publishes 105 business magazines, professional journals and directories, and provides more than 100 exhibits internationally.) New York-based Veronis, Suhler & Associates, the leading investment bank specializing in media properties, represented Universal Media, Inc., publisher of Travel Agent, in the sale. Terms of the transaction were not disclosed; however, Carl Ruderman, chairman of Universal Media as well as chairman of Travel Agent, said the deal was "the culmination of years of superb work by Travel Agent's publishing and editorial team in building the franchise. The business fits beautifully with Advanstar's impressive arsenal of travel industry products and services." Mr. Ruderman will continue as a consultant to the business, while the editorial and publishing staff will remain intact, including Travel Agent's long-time editor-in-chief Eric Freidheim, as well as Martin Deutsch Martin Deutsch (born 29 January 1917 in Vienna, Austria-Hungary — died 16 August 2002 in Cambridge, Massachusetts) was an emeritus professor of physics at MIT. He is best known for being the discoverer of positronium. , the magazine's editor-at-large and publisher of Travel Agent International. Travel Agent, with offices in New York New York, state, United States New 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 , has been ranked the second largest non-computer business-to-business magazine in the U.S. based on advertising revenue. It is the Number 1 travel trade periodical periodical, a publication that is issued regularly. It is distinguished from the newspaper in format in that its pages are smaller and are usually bound, and it is published at weekly, monthly, quarterly, or other intervals, rather than daily. in ad revenues, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Advertising Age (June 15, 1998). For the second time in five years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time magazine received Folio (1) Text management software for the professional reference publishing market from Fast Search & Transfer, Oslo, Norway and Boston, MA (www.fastsearch.com). Known as FAST Folio since its acquisition in 2004 from NextPage, Inc. Magazine's editorial excellence award in the travel trade category. Established in 1930, Travel Agent has grown up with the modern U.S. travel industry. The magazine's weekly circulation is 51,000, reaching 100% of U.S. travel agencies. A 1997 Simmons Readership read·er·ship n. 1. The readers of a publication considered as a group. 2. Chiefly British The office of a reader at a university. study ranked it Number 1 in terms of editorial quality and credibility with travel professionals. The transaction with Advanstar includes a number of products in addition to the centerpiece magazine, including: Travel Agent International, published nine times yearly reaching 19,200 international agents serving the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market; Travel Agent Custom Publishing, which produces special advertising-supported projects, including newsletters, sales manuals and reference pieces; The Official Travel Industry Directory for travel agents; Smart Fax, geared for travel suppliers who want to reach travel agencies directly; and Travel Agent Trade Shows, which produce conferences and exhibitions for the travel agent community on selling travel tours and packages. Hal Greenberg, the Veronis, Suhler managing director who represented Universal Media, noted that VS&A had represented Cap Cities/ABC when Travel Agent was originally sold to Universal Media in 1990. "Back then, Travel Agent was a distant fourth in a four-title field," Mr. Greenberg said. "In classic fashion, Universal Media transformed the magazine into the #1 title, overtaking o·ver·take tr.v. o·ver·took , o·ver·tak·en , o·ver·tak·ing, o·ver·takes 1. a. To catch up with; draw even or level with. b. To pass after catching up with. 2. major competition." Established in 1981, Veronis, Suhler has completed more than 400 media industry transactions, valued at more than $20 billion. The firm specializes in mergers/acquisitions, private placements, joint ventures, and management buyout Management buyout (MBO) Leveraged buyout whereby the acquiring group is led by the firm's management. management buyout See going private. financings.
CONTACT: Veronis, Suhler & Associates, New York
Allan Ripp, 212/721-7468
or
Russ Raman, 212-935-4990
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