Hollywood Reporter Parent Company to Acquire Mediabistro for $8 Million
Mediabistro, a digital media company whose offerings include editorial assets and an online job board, has agreed to be acquired for $8 million in cash by Prometheus Global Media subsidiary PGM-MB Holdings, LLC, the companies said on Thursday.
The sale is expected to close in the third quarter of 2014.
Along with providing job listings, Mediabistro's offerings include news sites targeted to specific industry professionals, including those in television broadcasting, advertising, public relations, social media and New York and Washington D.C. publishing.
TVNewser, AgencySpy, GalleyCat, FishbowlNY and FishbowlDC are counted among Mediabistro's online editorial assets. An education business and e-commerce assets were included in the sale.
Prometheus Global Media is the parent company of The Hollywood Reporter, Billboard and Adweek magazines.