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BREAKING NEWS & VIEWS
Reed Sells B&C, Multichannel News, TWICE to NewBay “We’re truly excited to have the opportunity to work with this talented team and to have these market-leading brands join the NewBay family,” said Steve Palm, CEO, NewBay Media, in a statement. “This acquisition further demonstrates NewBay’s commitment to our goal of delivering value to our advertisers, readers, and partners in these critical markets." Among NewBay's broadcast/video magazine brands are Government Video, TV Technology, Television Broadcast and Videography. NewBay also publishes the NAB Daily News show daily. Broadcasting & Cable and Multichannel News had been very competitive brands for Reed, but were eventually affected by broadcast and cable industry consolidation, prior to the challenges of the advertising drop-off that has reshaped most magazine publishers. Through September, B&C's ad pages have declined by 51.12% compared to January-September 2008, according to IMS/The Auditor. Multichannel's ad pages have declined by 43.7% across the same period. (See min's b2b for category ad-page boxscores.) The Jordan, Edmiston Group brokered the deal for RBI. If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com COMMENTS
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