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BREAKING NEWS & VIEWS
E-media Publisher Buys Princeton Ascend Health Titles “This is an attractive deal for them and for us,” says Vicki Masseria, CEO of Ascend Media. “Intellisphere is growing very quickly and it appears to be a good fit.” Masseria also adds that the transaction multiple was “very attractive.” Intellisphere is located in Plainsboro, NJ, just a short distance from the ex-Ascend Princeton office, so those institutional costs can and will be taken out of the business. In addition, “they took the majority of our talented employees, the editorial staff, etc., but they cut costs where they could in the service departments,” says Masseria. As opposed to last week’s purchase of Fiercemarkets by Questex, this is an instance of an e-media company buying traditional publishing assets. Ascend has four divisions remaining. The Allied Health division (14 titles), the exhibitions division (basically a custom publisher for tradeshows), the Practice Builders division (marketing services for physician practices), and a continuing medical education division in New Jersey. “We have some good growth planned for ’08. At this point, we have no intentions of divesting any more divisions,” says Masseria. Related Stories: AEGIS Communications Buys Ascend Dental Books (Premium) What Sent Masseria to Ascend? (Premium) Semi-Good News for Pharm? (Premium--ad page analysis) Ascend Shutters Three Pubs, Sells Another (Premium) What's Next for Ascend? (Premium--full company 2007 Jan-Jun ad pages) If you have breaking news to share please contact Steve Smith at ssmith@accessintel.com COMMENTS
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Intellisphere is an e-media company? They're a traditional publisher in every sense of the word! They have been publishing the medical magazine MD Net Guide (MDNG) for nearly the last decade, in addition to numerous supplements.
Posted by Bridget on Friday, February 1, 2008 @ 01:23 PM
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