Jim Casella, formerly CEO of Reed Business Information, has been promoted to vice chairman of Reed Business, the company announced last week. Casella will have overall responsibility for the growth and development of Reed Business in Brazil, China, India and Russia. He'll continue to report to London-based Reed Business CEO Gerard van de Aast as well as serve on the Reed Business management board. Tad Smith, who previously served as exec VP of Reed Business Information, was named to succeed him as CEO of the unit. Reed covers 23 market sectors and has more than 100 trade publications, including Variety, Publishers Weekly and Interior Design .
Magazine, trade show deals nearly double in Q3
The number of magazine and trade show deals nearly doubled in the third quarter of this year compared with the same period in 2004, according to a report by mergers and acquisitions advisory company Whitestone Communications. The total number of magazine and trade show deals in the third quarter was 24, up from 14 in 2004's third quarter. One deal, Primedia's sale of its trade magazine portfolio to PBI Media Holdings for $385 million, accounted for the bulk of the $632 million in deal value, up from $126 million. Whitestone tracks M&A activity for its annual reference guide "Who's Buying Whom."
Vance acquires Doane Agricultural Services
Vance Publishing Corp. has acquired Doane Agricultural Services. Financial terms were not disclosed. The newly acquired product lines include economic advisory products, a magazine and a daily live radio program, "AgriTalk," that is broadcast through 74 affiliates. "We will be redesigning the magazine, Ag Professional, and blending it with an existing Vance product, Dealer & Applicator ," Bill Newham, senior VP of Vance's Food360 Division, said in a news release.
ABM survey shows surge in digital media
B-to-b marketers have shifted nearly a quarter of their budgets to digital media, according to a survey by American Business Media. The survey took the pulse of more than 860 b-to-b marketers, which offered their perspective on marketing tools for brand building, lead generation and market spending. According to the survey, 49% of the respondents said they have been using online marketing this year while 55% said they expect to deploy online marketing by 2008. Sixty-three percent of respondents said in-person events are the most effective marketing tactic for lead generation, and 61% said they were the most effective for brand building.
Wachovia Capital buys Randall Publishing
Randall Publishing announced that its controlling shareholders-the family and estate of H. Pettus Randall III-have sold all their interests to Randall-Reilly Publishing, a new entity formed by Randall Publishing CEO F. Mike Reilly and Wachovia Capital Partners. Terms of the sale and the new equity interests were not disclosed. Randall Publishing, founded in 1934, has several titles covering the trucking and construction industries. Its properties include Equipment World, Overdrive, Truckers News, CCJ and Modern Woodworking . It also owns the Great American Trucking Show.