UBM Sells MR Magazine and Sister Publications
UBM, the parent company of UBM Fashion, which organizes various apparel and footwear trade shows in Las Vegas, New York and other venues, has sold MR Magazine to Wainscot Media, based in Montvale, N.J.
Terms of the deal were not revealed.
Also included in the sale were 25 custom magazines published for the customers of retailers in the apparel and jewelry businesses. The publications are known as Forum and Accent.
UBM acquired MR Magazine, which writes about menswear retailing, two years ago when it purchased Business Journals Inc. for $69 million. BJI had several publications and also served the men’s and women’s apparel and accessories markets with several trade shows that included AccessoriesTheShow, Edit, Fame, Moda, MRket and Stitch.
Wainscot Media is a family-owned trade and consumer media company. “Wainscot is a very strong player in both trade and custom publishing,” said Stu Nifoussi, group publisher of the recently acquired publications. “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.”
Karen Alberg Grossman, editor-in-chief of the publications, who conceived and created the magazines with Nifoussi, said the Wainscot purchase will ensure that the publications continue to exist in print and online.
“Wainscot Media is thrilled to add these important and influential properties to our family,” said Wainscot President and Chief Executive Mark Dowden. “We see a synergy that we believe will take all the publications to new heights.”