Reed Business Information has sold Broadcasting & Cable — founded in 1931 — to NewBay Media for an undisclosed amount, the L.A. Times reports:
NewBay LLC is owned by private equity firm The Wicks Group and produces 40 publications and newsletters. It owns musical magazines including Guitar Player, audio visual magazines including AV Technology and a couple of educational publications.
The deal reflects changes in the market for entertainment trades. Another case: Rupert Murdoch’s son, Lachlan, is among a group of investors on the brink of acquiring the Hollywood Reporter and Billboard from the Nielsen Co.
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