Categories: OLD Media Moves

Crain is selling InvestmentNews for $27.1 million

Crain Communications publication InvestmentNews is being sold to London-based Vitesse Media plc for approximately $27.1 million, according to a story on its website.

The story states, “Vitesse, which is publicly traded on the London Stock Exchange’s AIM market, has entered into an agreement to acquire InvestmentNews from its parent, Crain Communications Inc., for approximately $27.1 million. The deal is expected to close mid-August.

“The impending sale was announced early Tuesday to InvestmentNews’ 42-member team.

“As part of the deal, InvestmentNews’ leadership team will remain intact — as will its award-winning editorial, multimedia, audience, custom, research & data, marketing, sales and event divisions.

“‘We are looking forward to the future and the many growth opportunities that lie ahead of us with Vitesse as our new owner,’ said Suzanne Siracuse, the publisher of InvestmentNews. ‘We are thankful for all the support that Crain has given us over the years.'”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.