United Business Media has sold CMP Entertainment Media to The Wicks Group of Companies, a New York-based private equity firm, through its affiliate NewBay Media, for up to $50 million – $47 million cash at closing and $3 million in an earn-out. CMP Entertainment Media’s assets – 14 magazines, eight events, numerous supplements and newsletters, custom products and over 20 rapidly growing online properties – serve professional and enthusiast musicians, recording professionals, sound engineers, audio and video systems installers and technology educators.

JEGI CLARITY represented United Business Media in this transaction.