Bobit Business Media Acquires Newport Business Media
May 01, 2012
Bobit Business Media, a B-to-B media company specializing in the vehicle-fleet business, announced that it has acquired Newport Business Media's publishing properties -- Heavy Duty Trucking, TruckingInfo.com, Heavy Duty Aftermarket Journal and Newport Poster Network -- making Bobit the largest fleet media company in the world, according to Bobit.
Newport Business Media, Irvine, Calif., has been owned and operated by the Hutchinson family for 60 years. Led by Corporate Vice President Sherb Brown, the Newport staff is expected to join Bobit.
"This acquisition combines two highly respected publishing firms that focus on the fleet market, creating a powerhouse to address the evolving needs of the industry," says Miller.
Bobit Business Media, based in Torrance, Calif., produces 24 magazines and websites and 12 industry trade shows and conferences, including Automotive Fleet, Government Fleet, Work Truck, Auto Rental News, Green Fleet, Business Fleet, Modern Tire Dealer, Metro Magazine and School Bus Fleet.
"These heavy-truck properties fill a void we've had in our fleet coverage. Now we cover ALL the fleet vehicle markets and we can build a powerful fleet database," explained Ty Bobit, President-CEO of Bobit. "HDT is the most recognized and honored magazine in the commercial vehicle field, and Truckinginfo.com is the No. 1 website in trucking. We're thrilled to have these quality properties, along with their experienced staff, as part of our company."
"Newport has always concentrated on serving the heavy-truck industry with editorial excellence and premier marketing services," said Newport Business Media CEO Jim Hutchinson. "We know that Bobit will use its highly successful publishing expertise to build on those strengths."
Financial terms of the deal were not disclosed.
Swiftsure Securities, a Seattle-based investment bank, advised Newport Business Media in the transaction.