MR Magazine has a new owner.
UBM plc, the world’s largest business-to-business events organizer, will sell the print publication, web site and related businesses to Wainscot Media, a family owned trade and consumer media company based in Montvale, N.J.
Included in the deal are the 25 custom magazines published for the customers of exclusive retailers in the apparel and jewelry businesses, known as Forum and Accent.
Terms were not disclosed.
“Wainscot is a very strong player in both trade and custom publishing,” said Stu Nifoussi, group publisher of MR and the other magazines. “They saw an opportunity to expand these properties beyond what was possible at UBM and we are very happy to be joining them. While we have really enjoyed our association with UBM, we also recognize their primary commitment to the trade show and event businesses. Our intention is to maintain the very strong ties we have forged over the last couple of years to UBM and the Project Show, as well as MRket, which was originally created as an extension of MR Magazine.”
Karen Alberg Grossman, editor in chief of MR, said: “I’m excited about this opportunity to grow the magazines that we created, nurtured and loved for so many years: MR for 28, Forum for 20 and Accent for 15. Combining Wainscot’s expertise with the talent and skills of our MR and custom teams will result in many more years of innovative publishing — in print and online.”
Michael Alic, managing director of UBM Fashion, said the sale will “give these magazines and digital assets a great home and room to grow. We intend to continue to work with the Wainscot and MR teams on future initiatives to benefit both companies.”
Wainscot chief executive officer Mark Dowden said his company sees “a synergy that we believe will take all the publications to new heights. Wainscot provides several skills and services that were not a part of their current offerings, and the company has a strong team in place to support their efforts. We are excited to assist them in reaching their full potential.”
UBM purchased Business Journals Inc., which had owned MR and the other publications along with the MR trade show, in April 2016. The company operates Project, MAGIC, Coterie and other trade shows in the U.S.
Wainscot has media properties in four areas: a Luxury Group for independent retailers in fashion, jewelry, home design and hospitality; Health, for hospital organizations, medical groups and pharmaceutical companies; BigFish Digital Solutions for digital marketing programs, and a Regional Magazine Group, which publishes local lifestyle publications.