ACBJ purchases digital media company

American City Business Journals said Friday it has acquired Streetwise Media, a digital media company catering to young business people in Boston and Washington, D.C.

A story on its bizjournals.com website states, “Charlotte, N.C.-based ACBJ, a unit of Advance Publications, declined to disclose terms of the transaction.

“Streetwise currently operates two websites – BostInno in Boston and InTheCapital in Washington, D.C. – that focus on local business and civic news. The sites, as well as ancillary operations such as events, primarily target young professionals in their 20s and 30s, with coverage concentrating on industries and topics such as innovation, technology, politics, education and lifestyles.

“For ACBJ, the acquisition helps broaden its demographic reach. It also builds on the local publishing model that ACBJ has developed by tapping heavily into user-generated content through its community publishing platform. In addition, Streetwise adds heft to ACBJ’s digital audience, bringing 9 million page views and 2.6 million unique users a month to American City’s existing 35 million page views and 9 million monthly users.

“‘In a short amount of time, Streetwise has attracted a very loyal and robust audience that is different from but complementary to what we do at our business journals in Boston, Washington and elsewhere,’ said ACBJ President and CEO, Whitney Shaw. ‘We’re looking forward to helping Streetwise grow its business significantly and feel that many of the things we experienced building American City have a direct application to their efforts.'”

Read more here.