- Los Angeles-based investment firm Shamrock Capital announced that it has acquired Adweek. These are the details.
Los Angeles-based investment firm Shamrock Capital announced that it has acquired Adweek — which is a leader in coverage of advertising and brand marketing ecosystem — from Beringer Capital. The terms of the deal were undisclosed. The terms of the deal were undisclosed.
“Adweek has been a critical source of information and insights for the marketing and advertising community for decades,” said Laura Held, Partner at Shamrock Capital. “Adweek’s experienced management team has done a tremendous job of building on its established brand, expanding its industry coverage and its product offering to further solidify its leading position in the marketplace. We look forward to working with Adweek to continue to drive strong growth, both organically and through acquisitions.”
Shamrock Capital has approximately $1.9 billion of assets under management and invests exclusively in the media, entertainment, and communications sectors. The firm launched in 1978 as the family investment company for the late Roy E. Disney. Some of Shamrock’s current investments include Ad Results Media, Adweek, Appetize, Branded Cities, DeCurtis, FanDuel, Iyuno Media Group, Maple Media, Mobilitie, Omega Wireless, Pixellot, and Wpromote.
Adweek was first published in 1979. And the company hits an audience of over 6 million professionals across platforms including print, digital, events, podcasts, newsletters, social media, and mobile apps.
“Shamrock’s strong media expertise makes the firm an ideal partner for Adweek,” explained Jeffrey Litvack, CEO of Adweek. “Over the past four years, management has expanded Adweek’s focus beyond its award-winning journalism to include a burgeoning education platform, three leading industry tentpole events (Brandweek, Challenger Brands, and NexTech), a premium corporate subscription offering, and deeper connections with the CMO community through the acquisition of CMO Moves. We are excited to collaborate with Shamrock to continue innovating, expanding our offering, and enhancing Adweek’s strong brand and leadership in the market.”
Investment bank CG Petsky Prunier (part of Canaccord Genuity) advised Adweek and Beringer Capital on the transaction.
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