Miller Freeman Inc. Acquires CMP Media
Posted on April 30, 1999United News & Media plc and CMP Media I nc. have announced the signing of a definitive agreement by which United will purchase CMP, a leading US technology media company. CMP will become a division of Miller Freeman Inc., a wholly-owned subsidiary of United News & Media.
"This acquisition will position Miller Freeman as one of the leading business media groups serving the U.S. high-tech market, and it is also a major step in our strategy to become a leading online business-to-business media provider," said Miller Freeman Inc. President and CEO Don Pazour. "We believe the synergies between our two organizations will prove to be an excellent fit."
CMP and Miller Freeman have highly complementary skills and market positions. CMP has a worldwide network of leading brands, including 10 major high-tech publications in the U.S. such as InformationWeek, Computer Reseller News (CRN) and Electronic Engineering Times (EET). It also operates 40 leading online sites, such as TechWeb, under the CMPNet brand. In addition, CMP has a number of information-rich database, conference, research and product-testing businesses.
"I am extremely proud of CMP's growth over more than a quarter of a century," said Michael Leeds, President and CEO of CMP Media Inc. "Now we will benefit from the diverse assets of Miller Freeman as our products and people contribute to the fulfillment of Miller Freeman's mission to become the fastest-growing and most respected provider of business-to-business information and media in North America. I am delighted that CMP is joining another company that, like us, strives to create a terrific work environment and is a real contributor to the communities it lives in."