Advanstar Art Group sold to Pfingsten Publishing

Business Publisher, Feb 29, 2004

Pfingsten Publishing LLC (Cleveland, OH) has entered into an agreement to acquire the assets of the Advanstar Art Group (New York) from Advanstar Communications (Boston, MA). No terms of the deal were given. Pfingsten was represented by Jordan, Edmiston Group (New York).

The acquired assets include: Art Business News, a monthly magazine with a controlled circulation of 28,000 art dealers and framers, gallery owners, and suppliers and distributors; Framing Business News, a monthly tabloid published for a controlled circulation of 20,000 retail framers, suppliers, distributors and interior designers; and, the "ArtExpo New York" and "Art Miami" industry tradeshows.

The assets will be combined with Pfingsten's current art properties, including: Decor, a monthly magazine for professionals at art galleries, framers and retailers of wall decorations; the "Decor Expo" trade shows; Art Expressions Magazine, a title acquired in third quarter 2003 that covers the European market; and, an annual, combined "Artexpo/Decor Expo" show. Bagley said the "combination of our market-leading decorative art and framing group with Advanstar's market leading fine art group will ... allow the combined entity to provide a comprehensive product offering to advertisers, readers, exhibitors and attendees." Pfingsten said it will now be the art and framing Industry's largest producer of trade shows in the world.

Pfingsten is comprised of three main groups: Art & Framing, Financial Services and Industrial. The company's magazine titles include Progressive Distributor, MRO Today, Life Insurance Selling, American Agent & Broker and Contractor Tools & Supplies.