Penton (professional information services)

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Penton
Industry Information services and marketing solutions
Founded 1892
Founder(s) John Penton
Headquarters New York, United States
Key people David Kieselstein (CEO)
Products
Website www.penton.com

Penton, founded in 1892 by John Penton,[2] is a publisher of trade magazines, organizer of tradeshows, and provider of online marketing services. [3] Today, Penton is the largest independent company of this kind in the United States, Penton runs 65 tradeshows and conferences, 145 digital properties, 20 paid data products, and 86 print products in five core, scaled sectors. Penton's industry segments include agriculture, transportation, natural products/food, infrastructure, and industrial design and manufacturing.

Numerous corporate acquisitions, sales, and mergers have occurred over the years. Wasserstein & Co. purchased Prism Business Media from Primedia in August 2005 for $385 million.[4] Prism Business Media was then merged when Wasserstein purchased Penton Media in November 2006 for $194 million.[5] The combined entity took the Penton Media name, later dropping the "Media" part.[6] After the merger, Penton became one of the largest B2B media companies in the world.[7]

Penton's global headquarters had been in the Penton Media Building in Downtown Cleveland, Ohio since 2000.[8] However, after the Penton/Prism merger, the company is now headquartered in New York City,[9] although it continues to maintain offices in Cleveland and numerous other cities around the U.S. with an employee base of approximately 1,350 people.[10]

Due to reduced advertising sales as customers shifted to digital media from print, Penton went through "pre-packaged" bankruptcy reorganization in 2010.[11][12]

In late 2010, Penton acquired Nation's Restaurant News.

In early 2011, Penton sold Mix, Electronic Musician, Radio, and Sound & Video Contractor magazines to NewBay Media.[13]

Also in 2011, Penton acquired EyeTraffic Media, an online marketing firm. This was Penton’s first marketing services acquisition.[14] Also in 2011, Penton acquired Nine Lives Media, an IT publisher with industry-related blogs.[15]

Additionally, Penton’s Technology Media Group went all digital. [16] Penton acquired Highline LP of the United Kingdom, adding to its digital aviation business.; [17] and Penton acquired Farm Progress from Fairfax Media Limited of Sydney, Australia, expanded its agriculture sector becoming the lead in agriculture information and marketing solutions. [18]

In 2012, David Kieselstein became CEO and was tasked with broadening Penton’s digital solutions, entering new industry sectors, and exploring growth markets. [19]

In April 2013, Penton acquired myITforum.com, an online community for Microsoft Management professionals. [20] In the same month, Penton published the final issue of California Farmer, California's oldest farm magazine. Stating that the magazine wasn't as profitable as its other publications, Penton merged it with another property, Western Farm Press.[21]

In August 2013, Penton acquired Aviation Week from McGraw Hill Financial, expanding its aviation footprint and creating the largest targeted marketing platform in the aviation industry. [22]

In October 2013, Penton announced that Broadcast Engineering magazine would cease publication after 54 years.[23]

On March 26, 2014, Penton formed the Penton SmartReach division to sell subscriber data directly rather than through third-party list vendors.[24]

References[edit]

  1. ^ http://www.btobonline.com/article/20121113/MEDIABUSINESS03/311139993/penton-media-buys-farm-progress-boosts-agricultural-offerings
  2. ^ Penton history retrieved December 30, 2007
  3. ^ http://www.outsellinc.com/insights/12142
  4. ^ Prism Business Media ownership news retrieved February 20, 2007
  5. ^ Penton Media ownership news retrieved February 20, 2007
  6. ^ Penton/Prism merger completed retrieved December 30, 2007
  7. ^ Penton CEO John French profile retrieved December 30, 2007
  8. ^ Penton relocates corporate headquarters retrieved December 30, 2007
  9. ^ About Penton retrieved December 30, 2007
  10. ^ Penton office locations retrieved December 30, 2007
  11. ^ http://www.reuters.com/article/2010/03/05/pentonmedia-bankruptcy-idUSN0522761320100305
  12. ^ Penton Emerges from Bankruptcy
  13. ^ http://www.prosoundnews.com/article/34376 "Newbay Media Acquires Mix, Electronic Musician, Radio, And Sound & Video Contractor From Penton," Pro Sound News, Feb 2011
  14. ^ http://www.foliomag.com/2011/breaking-penton-buys-marketing-services-agency-eyetraffic-media#.Uf_cL20_AdV
  15. ^ http://www.foliomag.com/2011/penton-acquires-it-publisher-nine-lives-media
  16. ^ http://www.btobonline.com/article/20120227/MEDIABUSINESS12/120229988/pentons-technology-media-group-to-go-all-digital
  17. ^ Penton acquired Highline LP of the United Kingdom, adding to its digital aviation business.;
  18. ^ http://www.foliomag.com/2012/penton-acquires-farm-progress-companies-79-9-million
  19. ^ http://www.foliomag.com/2012/penton-hires-david-kieselstein-ceo
  20. ^ http://www.digitaljournal.com/pr/1172673
  21. ^ Finz, Stacy. "California Farmer Magazine Ends Its Run". SFGate, April 26, 2013.
  22. ^ http://www.penton.com/Articles/tabid/63/Default.aspx?Article=148
  23. ^ [1] Broadcast Engineering, October 25, 2013
  24. ^ [2] Folio, March 24, 2014

External links[edit]