Penske Media acquires controlling interest in Wenner Media and Rolling Stone

Penske Media CorporationPenske Media Corporation has acquired Wenner Media, majority owner of Rolling Stone. The multi-media brand features music reviews, in-depth interviews, political commentary and award-winning journalism across various platforms including magazine, digital, mobile, social and event marketing. The financial terms of the investment were not disclosed.

Since its founding in 1967 by Jann Wenner and Ralph J. Gleason, Rolling Stone has defined pop culture for generations of readers and is an iconic brand in publishing and music. Five decades later, Rolling Stone has evolved into a multi-platform content brand reaching over 60 million people per month.

Penske Media chairman and CEO Jay Penske said, “Our interest in Rolling Stone is driven by its people, its cultural significance, and the globally-recognized brand that has no peer in its areas of influence. We believe that Penske Media is uniquely qualified to partner with the Wenners to ensure the brand continues to ascend for decades across multiple media platforms.”

USA, Los Angeles, CA & New York, NY

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Radio One Inc. Increases Stake in Reach Media

Radio_one_logoRadio One Inc. though its wholly owned subsidiary Radio One Media Holdings has completed the purchase of shares of broadcaster Reach Media Inc. from minority shareholders worth $2 million. This transaction has increased its stake in Reach Media to approximately 80% from 53%, giving the firm an implied valuation of around $7.4 million.

Reach Media Inc., founded in 2003 by Tom Joyner and David Kantor is a cross platform media company which produces radio programmes, websites, events and initiatives targeted towards African-Americans. Its most popular show “The Tom Joyner Show” is aired in over 100 markets and reaches an audience of over eight million listeners.

Radio One CEO and President Alfred Liggins has commented on the transaction, stating ““Radio One has a commitment to be the leader in radio and online programming with compelling entertainment and information for the African-American audience,” and that by “combining our assets under Reach Media offers a […] broad platform for affiliate stations and advertisers to connect with our […] audience.”

Following the transaction, Radio One is to consolidate its Syndication One Urban programming line up with those offered by Reach Media to make Reach the largest radio network in the US catering specifically to an African-American audience.

US, Silver Lake, MD & US, Dallas, TX

Nasdaq OMX Group to acquire the investor relations, public relations, and multimedia solutions units of Thomson Reuters Corp for $390 million

The NASDAQ OMX Group is to acquire the Investor Relations, Public Relations and Multimedia Solutions businesses of Thomson Reuters for $390 million in cash. The businesses provide insight, analytics and communications solutions to more than 7,000 clients worldwide. They will be integrated into NASDAQ OMX Corporate Solutions.

“In one acquisition, we accelerate and achieve our Corporate Solutions long-term objectives, while maintaining our balanced strategy of delivering value to shareholders,” said Bob Greifeld, Chief Executive Officer, NASDAQ OMX.

“We believe that NASDAQ OMX is the ideal fit for our Investor Relations, Public Relations and Multimedia Solutions businesses,” said Michael Cotter, Global Managing Director of Corporate Services, Thomson Reuters.

The deal is expected to close in the first half of 2013

USA, New York, NY

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