Affiliated Publications Acquires 80 Percent of ASM Communications
BOSTON (AP) _ Affiliated Publications Inc., the parent company of The Boston Globe’s publishing company, has agreed to acquire 80 percent of the outstanding common stock of ASM Communications Inc., which publishes periodicals on the advertising and marketing industry.
Terms of the agreement were not disclosed by either party.
ASM Communications Inc., founded in 1978, publishes Adweek, Adweek’s Marketing Week, and Photo District News. Other properties include Marketing Computers, Adbank, Marketer’s Guide to Media.
Adweek is a national network of seven weekly magazines covering marketing and communications industries, with a total circulation of 83,000.
All the ASM properties will become part of Affiliated’s specialty publishing and information subsidiary, BPI Communications Inc.
Under the terms of the agreement, Kenneth L. Fadner will continue to serve as president of ASM and will retain a substantial equity interest in the company. Also continuing in management roles will be John C. Thomas Jr., ASM chairman, and W. Pendleton Tudor, executive committee chairman.
BPI now published 15 specialty magazines, 29 annual directories, publishes and distributes specialty books under five imprints and operates two book clubs.
Affiliated Publications Inc. is also the parent company of Globe Newspaper Co. publisher of The Boston Globe.