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Prometheus Global Media to Acquire Mediabistro (FishbowlNY)
Thursday morning, Mediabistro announced that it has entered into a definitive agreement to sell its editorial and e-commerce assets to PGM-MB Holdings, LLC, a wholly-owned subsidiary of Prometheus Global Media, for $8 million cash. FishbowlDC As part of the deal, PrometheusGM will add to its portfolio mediabistro.com and editorial sites including FishbowlDC, FishbowlNY, TVNewser and PRNewser, as well as the Mediabistro Job Board, and Mediabistro’s education business. THR Prometheus Global Media is the parent company of The Hollywood Reporter, Billboard and Adweek magazines. Mashable The deal still needs shareholder approval, which could happen by mid-July. The tradeshow portion of the company will remain with Mediabistro CEO Alan Meckler under a new company — Mecklermedia. The company’s 3D printing and bitcoin assets are also not a part of the deal. The site gained a following in media circles, particularly in New York and Washington, D.C., thanks in part to its job board and professional skill development courses. The acquisition provides Prometheus with a new cadre of editorial pieces that fit with the company’s other focused media assets. Prometheus also runs the Clio Awards for advertising and the movie event company Film Expo Group. Poynter / MediaWire Mediabistro alums include Brian Stelter, who wrote for TVNewser and now hosts Reliable Sources at CNN, and Patrick Gavin, who worked for FishbowlDC. In 2007, Laurel Touby sold Mediabistro.com for $23 million.