Corporate Legal Times is Acquired
Corporate Legal Times, one of the major national publications reaching law firm customers -- general counsel -- has been acquired. CLT was launched in 1991 and is the oldest monthly magazine published specifically for in-house counsel. It has a monthly circulation of more than 40,000 U.S. in-house counsel, including more than 11,000 general counsel. In addition, through its partnership with the Canadian Corporate Counsel Association, Corporate Legal Times is also read each month by almost 2,000 Canadian Corporate Counsel.
Here is the official release:
Wicks Business Information Acquires Corporate Legal Times
Fairfield, Connecticut (February 22, 2005) - Wicks Business Information, LLC (WBI) has acquired certain assets of Corporate Legal Times, LLC, WBI CEO Douglas J. Manoni announced today. Corporate Legal Times is the leading monthly magazine for General Counsel and other in-house corporate counsel and the producer of the annual SuperConference. Terms of the acquisition were not disclosed.
"I am excited by the addition of the Corporate Legal Times franchise to our business," said Manoni, noting that the legal publisher and conference producer will join Investment Advisor Group, publisher of Investment Advisor magazine and the Investment Advisor Wealth Advisor Summit, and Treasury & Risk Management magazine, which also produces three annual conferences for chief financial officers, corporate reasurers and controllers. "We are impressed with the quality of the products and the team at Corporate Legal Times," added Manoni, who noted that Publisher Nathaniel Slavin and Executive Editor Robert Vosper will continue with the magazine and SuperConference following the acquisition.
Founded in 1991 and headquartered in Chicago, Corporate Legal Times has the highest quality and largest reach into the category of any publication. With audited circulation of 40,000, it serves Chief Legal Officers, senior in-house corporate counsel as well as other attorneys and top corporate executives. It covers critical business and strategy information for corporate legal departments and regularly reports on corporate governance and compliance, litigation, labor and employment, and intellectual property. Among its annual surveys and reports are the Annual General Counsel Survey, The Annual Report of Corporate Legal Departments and the CLT10, an examination of 10 innovators in corporate legal solutions. Corporate Legal Times also operates a highly informative Web site, www.cltmag.com, featuring expanded survey information, resources for in-house counsel and selected columns and articles from the monthly magazine.
Corporate Legal Times sponsored the launch of the SuperConference in 2001. The Chicago based conference attracts more than 750 attendees and 40 exhibitors and sponsors. Featured speakers have included former U.S. Solicitor General Theodore Olson, New York State Attorney General Eliot Spitzer, Exelon Chairman & CEO John Rowe and Jeffrey Toobin, legal writer for The New Yorker and CNN analyst. The 2005 SuperConference will be held June 22-23, 2005, at The Sheraton Chicago Hotel & Towers.
"This acquisition is great news for Corporate Legal Times' readers and advertisers, as well as the attendees, sponsors and exhibitors of the SuperConference. Wicks' strategy is to improve CLT's value across the board for all our constituencies," said Nat Slavin, Publisher of Corporate Legal Times. "Wicks' management has identified and committed to a series of investments to enhance the quality and potential for our business." Added Slavin: "Our constituencies, particularly our readers, have come to depend on Corporate Legal Times for uniquely valuable information and services tailored precisely for the in-house community. Under Wicks' direction, our constituencies can be confident that Corporate Legal Times' future is brighter than ever."
The acquisition of Corporate Legal Times marks the first purchase by WBI since the announcement earlier in February of a significant recommitment of capital from The Wicks Group of Companies, L.L.C. WBI's newly focused strategy will center on the acquisition of businesses with specialized information products serving overlapping and related segments of the financial and corporate markets, including those with compliance and regulatory requirements.
WBI (www.wbi.com) is a business-to-business information company based in Fairfield, Connecticut. In addition to the support and significant capital resources of The Wicks Group of Companies, the WBI management team has extensive experience in magazine, newsletter, and database publishing as well as event and other specialized information product management.
The Wicks Group of Companies (www.wicksgroup.com) is a New York-based private equity investment firm focused on selected segments of the communications, information and media industries.
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The Wicks Group of Companies, L.L.C.
405 Park Avenue, Suite 702
New York, NY 10022
Contact: Douglas J. Manoni, Wicks Business Information, LLC
203-334-2002, dmanoni@wbi.com
Nat Slavin, Corporate Legal Times
312-654-3500, nslavin@cltmag.com
