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Industry: Email Alert RSS FeedCBM unloads nine titles to ex-CEO
Folio: The Magazine for Magazine Management, Nov 15, 1997 by Eric Charlesworth
Cardinal Business Media Inc. has completed its divestiture by selling off all nine titles from its information technology and vision care groups to former president/CEO Robert Boucher. Boucher, who founded Cardinal in 1992 with Los Angeles-based private equity firm Brentwood Associates, is making the titles the foundation for his new company, Boucher Communications Inc.
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(BCI). Brentwood put Cardinal up for sale outright last year, but reportedly couldn't find anyone to ante up the $70 million to $90 million it was seeking and decided instead to divest individual divisions. In May, Cardinal sold its applied technology division to Knowledge Asset Media. The company will focus on its remaining music/entertainment and sports/fitness divisions.
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