Operations

LCT Parent Company Acquires Business Media Firm

Posted on May 2, 2012

TORRANCE,  Calif. — Bobit Business Media has acquired Newport Business Media’s publishing properties – Heavy Duty Trucking (HDT), TruckingInfo.com, Heavy Duty Aftermarket Journal, and Newport Poster Network.  

“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,” said Ty Bobit, President/CEO of Bobit. “HDT is the most recognized and honored magazine in the commercial vehicle field, and Truckinginfo.com is the number one 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. “Newport has always concentrated on serving the heavy truck industry with editorial excellence and premier marketing services,” said CEO Jim Hutchinson. “We know that Bobit will use its highly successful publishing expertise to build on those strengths.”

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.  “This acquisition combines two highly respected publishing firms that focus on the fleet market, creating a powerhouse to address the evolving needs of the industry,” Miller said.

Bobit Business Media produces 24 B-to-B magazines and websites, including LCT Magazine and LCTMag.com, and 12 industry trade shows and conferences, including the annual International LCT Show and LCT Leadership Summit. It has several brands in the vehicle fleet market covering car and light truck fleets, transit bus and motorcoach fleets, and school bus fleets.  They include Automotive Fleet, Government Fleet, Work Truck, Auto Rental News, Green Fleet, Business Fleet, Metro Magazine, and School Bus Fleet.

“Our two companies share a commitment to quality content, cutting-edge technology, and superior customer service to our advertisers,” Bobit said. “Our customers, especially in the fleet and aftermarket industries, will be the beneficiaries of this acquisition. We now have twice the resources to serve our markets.”

Newport Business Media was advised by Swiftsure Securities LLC, a Seattle-based investment bank. The deal formally closed on April 30.

Bobit Business Media, originally known as Bobit Publishing, was started by Chairman Ed Bobit in 1961 and is now a three-generation, privately-held, family-owned and operated company.

Source: BBM

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