UBM Acquires Light Reading

$27M deal will help LR grow as an autonomous business unit within CMP Media

August 18, 2005

2 Min Read

MANHASSET, N.Y. -- CMP Media (http://www.cmp.com) has acquired Light Reading Inc., the leading integrated business media company serving the telecommunications industry and other related next-generation communications markets. Light Reading's monthly online audience, in excess of 400,000 unique visitors, as well as its highly regarded events and research services, will propel CMP into a global telecommunications segment that is poised for a new round of growth.

CMP will acquire Light Reading's four market-leading online publications (Light Reading, Byte & Switch, Unstrung and Next-Gen Data Center Forum); web- based seminars (webinars); live events; broadband television; paid research and advisory services (Heavy Reading); paid subscription newsletters; as well as white papers, online directories and sponsored e-newsletters. Light Reading is known for combining deep domain expertise in the telecommunications market with an online publishing style that is entertaining, irreverent and witty. CMP's strong position in the enterprise marketplace will help Light Reading reach beyond service providers, equipment manufacturers, public sector organizations and the business/financial community to further expand its business unit.

"The acquisition of Light Reading represents another expansion of CMP Media's growing portfolio. By combining CMP with Light Reading's online presence, as well as its well recognized events, research, services and integrated marketing solutions, we are uniquely positioned to serve the telecommunications industry," said Gary Marshall, president and CEO, CMP Media.

Stephen Saunders, co-founder and CEO of Light Reading, remains President of Light Reading and becomes Senior Vice President of CMP's newly formed Communications Group. "We created Light Reading in the belief that the Internet would revolutionize business-to-business publishing," said Saunders.

"We've proved the point by posting six consecutive years of profitability and growth. In CMP Media, we've found the path to take things to the next level, one that replicates our business model on a much larger scale."

Saunders will report directly to Steve Weitzner, CMP's Executive VP and COO, and all Light Reading employees will become part of the CMP Media organization.

"We're looking forward to Light Reading's very talented group of executives and professionals joining us as colleagues," said Weitzner. "They have been blazing a new trail in the B2B market, and we are excited about the opportunities this acquisition offers to our organization."


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