Los Angeles-based investment firm acquires Adweek

Shamrock Capital, a Los Angeles-based investment firm, has bought Adweek from Beringer Capital, as per reports.

The terms of the deal were not disclosed.

Laura Held, partner at Shamrock Capital said:

“Adweek has been a critical source of information and insights for the marketing and advertising community for decades. Adweek’s experienced management team has done a tremendous job of building on its established brand, expanding its industry coverage and its product offering to further solidify its leading position in the marketplace. We look forward to working with Adweek to continue to drive strong growth, both organically and through acquisitions.”

Jeffrey Litvack, CEO Adweek added:

“Shamrock’s strong media expertise makes the firm an ideal partner for Adweek. Over the past four years, management has expanded Adweek’s focus beyond its award-winning journalism to include a burgeoning education platform, three leading industry tentpole events (Brandweek, Challenger Brands, and NexTech), a premium corporate subscription offering, and deeper connections with the CMO community through the acquisition of CMO Moves. We are excited to collaborate with Shamrock to continue innovating, expanding our offering, and enhancing Adweek’s strong brand and leadership in the market.”

Investment bank CG Petsky Prunier, part of Canaccord Genuity, advised both companies on the transaction.