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Summit Business Media to acquire Wicks Business Information.

Summit Business Media (New York), a company formed by Wind Point Partners (Chicago, IL) in 2006 with the acquisition of Pfingsten Publishing (Cleveland, OH) and Highline Media (Erlanger, KY), has signed an agreement to acquire Wicks Business Information (Fairfield, CT/New York), a publishing and information company that targets the financial services and corporate legal sectors, from Wicks Group of Companies. Summit is filing for Hart-Scott-Rodino antitrust approval and the deal is expected to close this month. No terms of the acquisition were given.

"Credit Union Times" is published 51 times a year for a paid circulation of over 9000 credit union professionals. Launched in 1990, the publication focuses on industry news and developments as well as statistics, feature stories, special reports, and coverage of ongoing federal regulatory and legislative developments. Editorial covers such topics as mortgages, IT security, investments and trusts, data processing and technology, retail delivery systems, and auto lending.

"Inside Counsel," launched in 1990, is a monthly magazine published for a controlled circulation of 40,000 chief legal officers, senior in-house corporate counsel, and senior corporate executives. Content includes coverage of such topics as corporate governance, compliance, litigation, labor and employment issues, and intellectual property. Accompanying e-newsletters include "InsideLook," "InsideCareers" and "InsideTech."

"Investment Advisor" magazine is published monthly for a controlled circulation of 84,000 independent investment advisors. Editorial generally covers financial planning and investments with specific coverage of market sectors, retirement plans, derivatives, risk management, financial technology, best practices, economic indicators and forecasts, and treasury trends. The magazine also produces seven e-newsletters, including "Mutual Fund Focus" and "Retirement Plan Advisor."

"Treasury & Risk" magazine is published ten times a year for a controlled circulation of 47,000 financial executives, including CFOs, treasurers and controllers. Editorial includes information on trends and developments affecting the industry including globalization, outsourcing, technology, investor confidence, the cost of benefits, insurance, cash management, corporate finance, and accounting.

The acquired assets also include Wicks' Executives Enterprise Institute (EEI; New London, CT), a company that produces over 100 seminars and live events, primarily in the areas of corporate accounting and reporting, taxation, banking, lending, finance, labor relations, international issues and the law.

Summit CEO/Chairman William Reilly said the deal "represents a major expansion of our B2B media franchise in financial services, including investment advisory and credit unions, as well as corporate treasury and legal functions, and complements our existing strong presence in insurance markets." The four periodicals "are all #1 or #2 in strongly defined segments, and their print presence is strongly supported and extended by well-developed custom publishing, online and event properties. This is an important step in our strategic goal of becoming a major business information company," Reilly added.
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Publication:Business Publisher
Date:Jul 1, 2007
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