PGM-MB Holdings, LLC, a wholly-owned subsidiary of Prometheus Global Media, reached a definitive agreement to acquire a large portion of Mediabistro Inc. The purchase price is $8 million in cash.
The acquisition includes all of Mediabistro’s existing editorial and content sites (about 25 digital properties, of which a detailed list is below) and their various e-commerce, jobs/careers and education platforms. This deal, subject to stockholder approval, is expected to close in late July.
Prometheus Global Media owns and operates influential media brands Adweek, The Hollywood Reporter and Billboard, as well as the Clio Awards and Film Expo Group.
The properties acquired include:
Graphic Design Forum
Inside Mobile Aps
Inside Social Games
Ads of the World
Brands of the World