Specialized industry news provider and media company ALM will now be covering more than just legal news, thanks to an impending merger. Monday the publisher of The American Lawyer and The National Law Journal announced it would acquire Summit Professional Networks (SPN).
The deal, coming to fruition Jan. 30, will bring more diversity to NYC-based ALM’s publisher portfolio, as SPN’s titles include Investment Advisor and other insurance- and benefits-related titles.
Bill Carter, president and CEO of ALM, said the merger made sense due in part to the “award-winning journalism” produced by SPN publications.
ALM’s new growth strategy, though it involves trade magazines, echoes the habits of mainstream media outlets adding more value by diversifying editorial offerings. ALM has been on a bit of a spending spree since December, when it took on Kennedy Consulting Research & Advisory in an acquisition.
After the acquisition is complete, ALM will be reaching more than 6 million professionals in the legal and insurance industries.