Farm Journal Media to buy majority stake in Machinery Pete

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Philadelphia—Farm Journal Media has reached an agreement to acquire a majority interest in Greg Peterson's Machinery Pete, a provider of machinery auction price data. Financial terms of the deal were not disclosed. Machinery Pete's data is based on more than 500,000 auction sale prices in approximately 75 categories of equipment in the U.S. and Canada. Peterson also provides reporting and commentary under the Machinery Pete brand. Peterson joined Farm Journal Media in July as a multimedia editorial contributor and recently launched a 30-minute weekly TV show called “Machinery Pete Auction of the Week" on RFD-TV.
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