Wicks Group Buys CMP Entertainment Media for $50M
United Business Media has sold CMP Entertainment Media to The Wicks Group of Companies L.L.C for $50 million - $47 million in cash at closing and $3 million in an earn-out.
CMP Media's assets include 14 magazines, eight events, numerous supplements and newsletters, custom products and more than 20 online properties.
The publications serve professional and enthusiast musicians, recording professionals, sound engineers, audio and video systems installers and technology educators.
Jordan, Edmiston Group Inc., a New York media investment bank, represented United Business Media in the transaction.