HousingWire to acquire REO Insider
HousingWire, a publication for mortgage investment, origination and servicing executives, is to acquire REO Insider, a trade journal focused on distressed real estate transactions. HousingWire will assume ongoing management of various conferences and research products tied to REO Insider, as well as other assets.
“The distressed real estate market, whether via REO or short sales, has never been more relevant to the overall economic picture than it is right now,” said HousingWire CEO Paul Jackson. “This acquisition will solidify HousingWire’s position as the only end-to-end news and information source that crosses the entire housing finance spectrum.”
REO Insider organized and hosted REO Expo 2010 in Dallas this past June, bringing more than 1,500 industry professionals together. The company also launched the Pinnacle Awards program, the REO industry’s first-ever peer-selected awards program, based upon a research product developed by the publication.
“We’re very much looking forward to hosting REO Expo in 2011, and will continue to build upon the success of the Pinnacle Awards to expand an offering of research products in the future,” said Richard Bitner, HousingWire president. “With the outlook for U.S. housing remaining highly volatile, we expect that the HousingWire media platform will be positioned through this acquisition to better meet the demands of a changing industry.”
The transaction is expected to close by October 1, 2010, with the newly-expanded HousingWire Magazine and HousingWire website debuting in November.
USA. Dallas, TX