Summit Business Media sells four titles to Milo Trade Media

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New York—Summit Business Media has sold four construction/industrial magazines to Milo Trade Media. Financial terms were not disclosed. The magazines are: Contractor Tools and Supplies, Construction Purchasing, MRO Today and Progressive Distributor.

"These were legacy titles acquired during the formation of Summit last November that fell outside of our core financial service focus," said William F. Reilly, chairman-CEO of Summit Business Media, in a news release. "This action represents a minor pruning for our portfolio as we continue to invest in organic growth and follow-on acquisitions."

Summit Business Media was formed through a partnership between Reilly, former CEO of Primedia, and private equity firm Wind Point Partners with the acquisitions of Highline Media and Pfingsten Publishing.

—Matthew Schwartz

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