by David Utter, at WebProBusiness
Our friends at the Jordan, Edmiston Group tell us CMP Media has acquired telecom publisher Light Reading.
Light Reading Inc, which publishes Light Reading, Byte & Switch, Unstrung and Next-Gen Data Center Forum, has been picked up by UK-based United Business Media’s CMP Media subsidiary for $27 million USD cash.
CMP should gain strength in the vertical telecommunications market, and enhance the expansion of the Light Reading portfolio. In a press release, CMP cites Light Reading’s readership at over 400,000 unique visitors monthly.
Jordan, Edmiston Group observed in its note to us that Light Reading’s CEO and co-founder, Stephen Saunders, will remain President of Light Reading. He will also assume the title of Senior Vice President of CMP’s newly formed Communications Group.
CMP made glowing remarks about Light Reading in its statement. They cited Light Reading’s expertise in the telecoms market and “an online publishing style that is entertaining, irreverent and witty.”
About the Author:
David Utter is a staff writer for WebProNews covering technology and business.