Highline Media Acquires Wealth Manager Magazine From Bloomberg L.P.
Hoboken, NJ -- Highline Media, a leading information provider to the financial and insurance industry, today announced that it has acquired Wealth Manager magazine from Bloomberg L.P. Terms of the transaction were not disclosed.
"We are excited about the opportunities that owning Wealth Manager opens up to us," said Andrew L. Goodenough, President and CEO of Highline. "For a number of years, the product set and customer base at the Highline companies have expanded beyond a traditional insurance footprint, driven largely by the rise of annuities, an insurance company invention with both security and insurance attributes. Increasingly our customers have been in the broader spectrum of the financial services distribution chain, to include financial advisors, financial planners, investment managers and registered representatives. Wealth Manager, with its superb reputation in the marketplace among the most sophisticated financial advisors, gives us a powerful entrée to this select group. We intend to continue the fine tradition of the magazine -- especially with its unparalleled quality of editorial content and graphics presentation -- here at Highline.
Wealth Manager now reports to Thomas A. Fowler, Vice President and Group Publisher of the Financial Magazine Division at Highline. Prior to joining Highline in 2004, Fowler was head of the Investment Management Group at Thomson Media, including such titles as Financial Planning, On Wall Street, Securities Industry News and Bank Investment Consultant. The magazine's staff will be moving to Highline's offices in Hoboken, NJ by mid-October.
Mr. Fowler has named Richard Koreto as Editor of Wealth Manager, effective with the November issue, in addition to Mr. Koreto's responsibilities as editor of Advising Boomers, a quarterly magazine launched by Highline in May 2005, aimed at the broad spectrum of financial professionals advising the baby boom generation. Koreto was formerly Executive Editor of Financial Planning magazine.
Along with the magazine, Highline has acquired the web rights to Wealth Manager and a companion book series.
For more information, please contact:
Andrew L. Goodenough at 212/218-5459
Thomas Fowler at 201/526-1233
Richard Koreto at 201/526-1254.
About Highline Media
Highline Media was formed in October 2003 by Spire Capital Partners, L.P.(www.spirecapital.com), and headed by Andrew L. Goodenough, its President and Chief Executive Officer, to acquire business-to-business information assets in the financial services, insurance and real estate fields. Highline's product set includes magazines, data, newsletters, conferences, websites, books and reference materials, delivered in print, electronic and live event form. Goodenough has more than 25 years' experience in financial industry publishing and information services, and prior to founding Highline Media, served as the President of the Financial Publishing and Conferences Group, a division of The Thomson Corporation. Highline's first acquisition was The National Underwriter Company ("NUCO"), the leading publisher of insurance information in the U.S. In 2004 the company completed an additional five acquisitions, adding insurance and banking data businesses acquired from The Thomson Corporation; an insurance training and continuing education business; two magazines; and several liability books. The acquisition of Wealth Manager is the company's first in 2005. For more background, please refer to www.highlinemedia.com.