SC Business Publications LLC sells operating assets
SC Business Publications LLC, which publishes SC Biz News, Charleston Regional Business Journal, Columbia Regional Business Journal, GSA Business Report, SCBIZ and other affiliated titles, has sold its operating assets to a unit of New Media Investment Group.
The group will operate under BridgeTower Media, the business-to-business division of New Media Investment Group. New Media is a publicly traded company on the New York Stock Exchange under the ticker symbol NEWM.
BridgeTower serves more than 20 markets across the U.S. with publications and products in business, politics, construction and real estate, and law. BridgeTower also owns Best Companies Group, which administers Best Places to Work programs across the nation.
BridgeTower plans to leave all of the operating brands the same and has expressed no plans to change the employee base. Grady Johnson will continue in his role as president and group publisher of SC Business Publications operations.
"We look forward to being part of this growing organization and are excited about the opportunities to leverage the assets and products under the BridgeTower division to super-serve our statewide audience," Johnson said.
Dirks, Van Essen & Murray, a media merger and acquisition firm based in Santa Fe, N.M., represented New Media Investment Group in the transaction.