Tulsa, Okla.—PennWell Corp., publisher of Oil & Gas Journal, has acquired the “Broadband Technology Report,” a weekly e-newsletter, from Hermes Media & Research. Financial terms of the deal were not disclosed.
As part of the deal, PennWell will take control of the Diamond Technology Reviews, a technology awards program for the broadband industry. Broadband is a new vertical market for PennWell.
“The acquisition of 'BTR' and its family of products immediately establishes PennWell as a leader in the rapidly growing broadband technology industry,” said PennWell President-CEO Robert F. Biolchini, in a statement. “We look forward to providing a larger platform and an array of digital media resources and expertise to accelerate the growth of this exceptional business, and we welcome ['BTR' founder] Tim Hermes and his team to PennWell.”
PennWell said it will operate “BTR” as a part of its technology group under the direction of Christine Shaw, senior VP, and Ernesto Burden, group publisher, who is also responsible for PennWell's Lightwave Magazine covering the fiber optics and optoelectronics sector.