Business Services Industry
American City Business Journals Inc. announces acquisition
Business Wire, Jan 23, 1995
CHARLOTTE, N.C.--(BUSINESS WIRE)--Jan. 23, 1995--American City Business Journals Inc. (OTC: AMBJ) announced it acquired a 20% interest in Sunbelt Video Inc., a video production company based in Charlotte, with an option to acquire the remainder of the company in three years.
Sunbelt produces sports programming for cable TV networks and promotion and training videos for companies. Ray Shaw, American City Chairman, said the purchase "gives American City an opportunity to broaden its media reach. I see synergies between Sunbelt's video programming capabilities and our business and sports publications."
American City is the nation's largest publisher of local business newspapers, owning 28 such publications. It also publishes three motorsports racing publications and owns a national advertising represenation firm.
CONTACT: American City Business Journals Inc., Charlotte
Ray Shaw, 704/375-7404
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