Cygnus lines up $220M in financing
›› GE Commercial Finance Global Media & Communications announced it has arranged a $220 million senior debt facility for Cygnus Business Media. GE Commercial Finance committed to and underwrote two-thirds of the facility, with Union Bank of California underwriting the remainder. In the b-to-b media recession of the past three years, Cygnus has been one of the few consistent acquirers.
Primedia to launch auto electronics title
›› Primedia Business Magazines & Media, a unit of Primedia, announced it will debut a brand extension of WARD's AutoWorld in October. Titled WARD's Auto Electronics, the new stand-alone publication will be mailed with Primedia's WARD's AutoWorld, Power Electronics Technology (PE Tech) and RF Design. Primedia will use editors from PE Tech and RF Design to create WARD's Auto Electronics, which will be distributed to 24,500 subscribers.