NEW YORK (September 19, 2006) — Prism Business Media Inc. today announced the acquisition of SpeedNews®, Inc., a leading source of news and information for the aviation industry executive since 1979. SpeedNews publishes multiple industry-leading market-intelligence newsletters, and also produces a highly-regarded series of annual supplier conferences. The Company also hosts SpeedNews.com, a leading business-to-business Web site for aviation executives that includes a comprehensive online database of available commercial airliners and corporate aircraft and their engines. Merger and acquisition firm Whitestone Communications, Inc. of New York, represented SpeedNews, Inc. in this transaction. Terms of the transaction were not disclosed.
"We are extremely pleased to add these highly respected products, as well as the talents of SpeedNews founder and aviation industry leader Gilbert Speed and his experienced team, to our already strong aviation portfolio," said John French, CEO of Prism Business Media.
"With the integration of SpeedNews' highly complementary commercial, military and corporate aviation products, we will be able to provide our combined customers with a broader array of aviation information and marketing services," added Shawn Etheridge, senior vice president, Information Data Products for Prism.
SpeedNews, founded in 1979, is based in Los Angeles, Calif. Its publications include:
SpeedNews also produces four industry supplier conferences each year, designed for equipment manufacturers, marketing representatives, analysts and raw material suppliers. On September 18-20, SpeedNews is holding its 7th Annual Aviation Industry Suppliers Conference in Toulouse (AISCT) with more than 165 attendees representing 125 different companies from 21 countries. Upcoming conferences include the 11th Annual Regional & Corporate Aviation Industry Suppliers Conference; the 21st Annual Aviation Industry Suppliers Conference; and the 5th Annual Aerospace & Defense Industry Suppliers Conference.
SpeedNews founder Gilbert Speed will continue to serve as a consultant to Prism, chairing the SpeedNews conference series and overseeing content for the newsletters.
"The combined strength and market knowledge of SpeedNews and Prism will enable us to extend our reach further into new markets for aviation products and services," said Speed. "We are excited about working with the Prism team on development of innovative information and editorial products for current and new customers across the entire aviation community."
Prism's other aviation-related information data products include AC-U-KWIK® FBO/airport directories; acukwik.com; The Aircraft Bluebook®; The Air Charter Guide®, The Executive Traveler Edition®, and NAVPAK® flight planning software.
Prism Business Media Inc. is a leader in business-to-business communication and information, connecting qualified buyers and sellers in 20 industry sectors. Prism's growing portfolio of market-leading brands spans 70 magazines, 150 e-newsletters, 17 industry trade shows and 500 rich data products. Each month, more than 3.3 million unique visitors utilize Prism Web sites and services. Prism Business Media is owned by U.S. Equity Partners II, an investment fund sponsored by Wasserstein & Co., LP, and by co-investors Highfields Capital Management and Lexington Partners. For additional information on the company and its businesses, visit www.prismb2b.com.
