Pfingsten Publishing acquires art business news, Artexpo

Art Business News, April, 2004

CLEVELAND -- Pfingsten Publishing purchased the assets of the Advanstar Art Group of Advanstar Communications Inc. in March. The acquisition combines Pfingsten's properties DECOR magazine, four DECOR Expo trade shows and Art Expressions Magazine--with Advanstar's Art Business News, Framing Business News, International Artexpo New York and ArtMiami into a single business unit. The announcement was made during the International Artexpo New York and DECOR Expo shows in New York.

Thomas Bagley, chairman of Pfingsten, said, "The combination of our market-leading decorative art and framing group with Advanstar's market-leading fine-art group will result in exceptional operating synergies and will allow the combined entity to provide a more comprehensive offering to our advertisers, readers, exhibitors and attendees. We are thrilled to have the opportunity to acquire these assets."

"This is a logical combination, and we wish Pfingsten well in their new efforts," said Robert Krakoff, chairman of Advanstar Communications, which is based in Boston. Advanstar indicated it will use the proceeds to continue to expand its activities in its 18 other markets and in new areas.

With the addition of the Artexpo and ArtMiami shows, Pfingsten Publishing officials said the company will now be in a position to offer a continuum of differentiated trade shows and related products, such as educational and electronic products, that address different segments of the art market. A combined Artexpo/DECOR Expo show in Madrid is also being planned for January 2005.

On the publication side, Pfingsten Publishing will publish Art Business News and Framing Business News alongside its existing DECOR magazine. In Europe, the company will continue to publish Art Expressions Magazine, which was aquired by the company in the fall of 2003.

"We're excited about the opportunities that the combined business groups will bring to the marketplace," said Joe Bennett, president of Pfingsten Publishing. "By combining the assets of these two industry-leading businesses, we enhance our ability to provide advertisers and exhibitors with more efficient overall planning and integration of their marketing efforts as the needs of the various market segments dictate."