1 September 2016
BDA advised Mediabistro on sale of Adweek to Beringer Capital
Divested Adweek to Beringer Capital
BDA Partners is pleased to announce that its client, Mediabistro Holdings (“MBH”), has agreed to sell Adweek, the premier resource for news and insight in media, marketing, and advertising, to Beringer Capital, a leading private equity firm focused on digital media and marketing. BDA acted as exclusive financial advisor to MBH during its strategic process.
First published in 1978, Adweek is now one of the largest news sources in the media, marketing and advertising space. Adweek.com sees more than 6.5 million monthly unique visitors and has been ranked within the top three most shared media content sources online. With more than three times the readership of its closest competitor, and a social media following of 1.9 million, Adweek is well positioned to capitalize on the digital evolution of the media landscape.
In addition to the Adweek digital and print publications, the acquisition from Mediabistro Holdings also includes the nine industry blogs in the Adweek Blog Network: AgencySpy, FishbowlNY, FishbowlDC, GalleyCat, LostRemote, PRNewser, SocialTimes, TVNewser and TVSpy.
Following this acquisition, Beringer Capital will provide Adweek with resources to expand its editorial content, delivered online and across a weekly print magazine, mobile applications, daily newsletters, social media, original videos, events, and awards.
Matthew Doull, Senior Advisor to BDA, said “We’re proud to have advised Mediabistro Holdings on this sale process, and to have elicited global interest in Adweek. Beringer represents a strong partner for Adweek to continue to develop its growing editorial and digital platforms.”
"This mandate builds on BDA’s strong record in the TMT sector. It demonstrates our ability to manage transactions globally within the evolving media sector."
Adweek is the leading source of news for marketing, media and advertising professionals. It delivers insightful, forward-thinking content across various platforms, including a weekly print magazine, an iPad app, daily newsletters, social media, original videos, events and awards. Adweek is a must-read for CMOs, creatives, media buyers, content creators, agency heads and anyone looking to stay informed about the digital media landscape. www.adweek.com
About Beringer Capital
Beringer Capital is a leading private equity firm that invests in the digital media and marketing services sectors. Beringer Capital partners with founders and management teams to build significant businesses through a combination of organic growth & add-on acquisitions. www.beringercapital.com
BDA Partners is a leader in cross-border investment banking involving Asia. BDA advises on M&A, capital raising, and restructuring. BDA has been consistently owned and managed by the same team since 1996. BDA has a track record of providing independent advice to blue-chip corporate and financial sponsor clients from North America, Europe, and Asia. BDA is headquartered in New York with offices in London, Dubai, Mumbai, Ho Chi Minh City, Singapore, Hong Kong, Shanghai, Beijing, Seoul, and Tokyo. BDA was named M&A Advisory Firm of the Year at The ACG Champions Awards in 2015. BDA formed a partnership with William Blair & Company in 2011.
BDA carries out its US securities business through BDA Advisors Inc, a broker-dealer registered with the US Securities and Exchange Commission (SEC) and a member of FINRA and SIPC. BDA’s UK subsidiary is authorised and regulated by the Financial Conduct Authority. BDA’s HK subsidiary is licensed and regulated by the Securities & Futures Commission.
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