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Posts Tagged ‘Penton Media’

Penton Media Sells Off Trade Magazines To NewBay Media

Penton Media streamlined their catalog of audio-themed titles by selling four of their trade magazines to NewBay Media yesterday.  The New York-based B2B media company said goodbye to Mix, Electronic Musician, Radio, and Sound & Video Contractor.  NewBay also purchased the website from Penton.

NewBay has made a habit of buying up trade publications in recent years.  In December 2009, the company acquired Broadcasting & Cable and Multichannel News from Reed Business Information.

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Penton Media Shutters Two Trades

Machinist.jpg2009 may have been a rough year for magazines, but 2010 isn’t shaping up to be much better. Especially for trade pubs.

Today, B2B publisher Penton Media decided to close two of its trade magazines, American Machinist and Welding Design & Fabrication, Folio is reporting.

The news comes one day after Reed Business Information revealed plans to shutter three of its trades.

Read More: Penton Shutters Two Print TitlesFolio

Previously: Memo: RBI Begins To Shutter Trade Pubs It Can’t Sell

Folio Pulls Out All The Stops for Their 2010 Predictions

folio22.jpgWhile the rest of us are looking to our Magic 8 Ball for clues about next year’s publishing climate, Folio magazine has taken a different approach: the industry trade journal created a list of 115 predictions for 2010 by asking leaders in the field what they expect to see in the New Year.

The list is one-third “no-duh” (like Jim Spanfeller, former Forbes CEO’s prediction, “Digital media will continue to grow share”), one-third educated guessing (“The Apple Tablet will be more horse than unicorn,” says F+W director of audience development Guy LeCharles Gonzalez), and one-third wild speculation (nobody is going to start printing magazines on purple or puce paper, sorry Penton Media‘s Warren Bimblick).

See which ones you agree with. Will magazines make a “modest comeback” after all? Or will 2010 be the year that publishers realize “their magazine is no longer their brand?” Add your own predictions in our comments!

Read More: 115 Magazine and Media Predictions for 2010 — Folio

B-to-B Publisher Cygnus Media Emerges From Ch. 11, Names New CEO

Just 49 days after filing for bankruptcy protection, business-to-business publisher Cygnus Business Media today announced its emergence from Chapter 11.

When it filed for Chapter 11 in August in order to restructure its debt, Cygnus said it had reached an agreement with 23 out of 24 secured lenders on a financial restructuring deal. The company filed a prepackaged bankruptcy plan with the court that was swiftly confirmed.

According to Cygnus, the now-approved plan will become effective and convert a portion of the company’s secured debt to equity.

Also today, Cygnus announced the appointment of a new CEO, John French, formerly the CEO of Penton Media. See the release about his hiring, after the jump.

Back in July, even before its Chapter 11 filing, Cygnus was trying to cut costs. It laid off 50 staff members and restructured its sales team in its strongest media sectors, suspending a handful of titles, including jewelry trades Modern Jeweler and Lustre.

Earlier: Cygnus Media Restructures Debt Through Chapter 11

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Print Media’s Revolving Door Appears to Only be Swinging One Way

revolving-door-283-thumb.jpgJournalism’s long dark week of exits continues today with the announcement that John French, head of Bruce Wasserstein‘s magazine empire Penton Media is stepping down. French informed a reportedly surprised staff of the decision saying that it was the result of numerous discussions with the board of directors “regarding the organization’s evolution and the leadership needs going forward.” And so, another one bites the dust, as they say.

One media investment type told the Post’s Keith Kelly that “The job of a CEO of a traditional media company these days has the life expectancy of a second lieutenant in Vietnam.”

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