Bobit Business Media acquires Newport Business Media
Torrance, Calif.—Bobit Business Media announced today that it has acquired Newport Business Media's publishing properties—Heavy Duty Trucking, TruckingInfo.com, Heavy Duty Aftermarket Journal and Newport Poster Network. Financial terms of the deal were not disclosed.
“These heavy-truck properties fill a void we've had in our fleet coverage. Now we cover all the fleet vehicle markets and we can build a powerful fleet database,” Ty Bobit, President-CEO of Bobit said in a news release. “HDT is the most recognized and honored magazine in the commercial vehicle field, and Truckinginfo.com is the No. 1 website in trucking. We're thrilled to have these quality properties, along with their experienced staff, as part of our company. Their addition makes Bobit the largest fleet media company in the world.”
Newport Business Media has been owned and operated by the Hutchinson family for 60 years. Kate Miller, president of the Newport Business Media properties, based in Schaumburg, Il., will continue to lead those brands as VP-group publisher-truck within the renamed Bobit FleetGroup, which is led by Corporate VP Sherb Brown. The Newport staff is expected to join Bobit.
Bobit Business Media has several brands in the vehicle fleet market covering car and light truck fleets, transit bus and motorcoach fleets, and school bus fleets. These include Automotive Fleet, Government Fleet, Work Truck, Auto Rental News, Green Fleet, Business Fleet, Metro Magazine and School Bus Fleet.
Swiftsure Securities, a Seattle-based investment bank, advised Newport Business Media in the transaction.