Broadcasting & Cable Magazine, Multichannel News, TWICE sold to NewBay Media

Trade magazines Broadcasting&Cable, Multichannel News and Twice have been sold by Reed Business Information to NewBay Media. NewBay LLC is owned by private equity firm The Wicks Group and produces 40 publications and newsletters. It owns musical magazines including Guitar Player, audio visual magazines including AV Technology and a couple of educational publications. Founded in 1931 by Sol Taishhoff, Broadcasting & Cable Magazine covered the industry primarily from a Washington perspective for decades until relocating much of its editorial operations to Los Angeles and New York. Like many industry magazines, it has seen its advertising pages diminish over the last several years. In its heyday, the magazine had a strong influence with regulators and Capitol Hill insiders. Reed has indicated that it plans to maintain ownership of Daily Variety and Variety. Separately, the Nielsen Co., parent of Hollywood Reporter, Billboard and Media Week is near a deal to sell those publications and several others to investor groups that includes Lachlan Murdoch, son of News Corp. CEO Rupert Murdoch.