|DMG, which has annual revenues of $227 million, is a conference company and publisher of trade magazines including 'Tobacco World,' 'Oil & Fats International,' "Furnaces International," and 'Asia Pacific Coatings Journal.'
No drastic changes
The London-headquartered publishing and conference conglomerate in a statement said it had no immediately plans to make drastic changes in Ad:Tech's format.
Financial details of the sale were not disclosed. Mark Carr, who handles DMG's publishing and exhibition business in the U.S. and Europe, will head the new division, based in San Francisco, according to the statement.
Ad:Tech, created in 1996, is a must-attend gathering for marketers and agencies involved in online and interactive media. It hosts annual conferences in Chicago, New York and San Francisco and, this year, will launch additional shows in Shanghai and London.
U.K's 'Daily Mail'
DMG World Media is a wholly-owned subsidiary of the Daily Mail and General Trust, one of the U.K.'s largest media companies and publisher of the Daily Mail. DMG is both an event planner and publisher, producing 300 trade and consumer shows and publishing 70 magazines, newspapers, directories and market reports, mostly in the U.K.
With 30 offices worldwide, the company statement indicates DMG plans to expand Ad:Tech into new markets.