United Business Media (UBM) has sold CMP Entertainment Media to Wicks

Leonis Principal, Inc. (d/b/a “Leonis Partners”) and The Jordan Edmiston Group, Inc. (d/b/a “JEGI CLARITY,” and together with Leonis Partners, the “Parties”) have entered into a proposed combination agreement (the “Transaction”). The Transaction is subject to approval by the Financial Industry Regulatory Authority (“FINRA”) and in the UK by the Financial Conduct Authority (“FCA”). The Parties will continue to be two distinct entities and businesses until the Parties obtain FINRA's and the FCA's approval of, and close, the Transaction. Click here for more information.

Transaction

JEGI CLARITY Represents UBM In Sale Of CMP Entertainment Media To Wicks

Date: September 2006

Deal Type: Corporate Divestiture

Role: Sell-side M&A

Sectors:

B2B Information and Events
Digital Media and Content

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.