Secaucus, N.J.—Northstar Travel Media, publisher of Travel Weekly and Meetings & Conventions, confirmed Monday that it has acquired five media brands from Nielsen Co.'s Business Media Travel Group. The news was first reported by BtoB on Feb. 9.
The brands in the deal are Successful Meetings, Business Travel News, Meeting News, Incentive and MiMegasite, an on-line portal serving the meetings industry.
In January, Northstar announced the acquisition of the Home Based Travel Agent trade shows and the launch of Travel Weekly's CruiseWorld 2010 trade show.
“We are actively investing in our core markets through organic initiatives and strategic acquisitions that offer our customers a broader range of information and marketing channels,” Northstar Chairman-CEO Tom Kemp said in a statement. “We are taking advantage of a weak economy to strengthen our competitive positions because we're bullish about our core markets, our brands and our leadership teams. We expect further expansion in 2010.”
In an interview, Kemp said he planned to operate both Meetings & Conventions and Successful Meetings, which compete head-to-head. He said due diligence indicated that there was surprisingly little overlap between the circulation of the two publications. Additionally, he said Northstar planned to invest in the newly acquired brands, including the hiring of additional staffers.