NEW YORK, June 14, 2007 (PRIME NEWSWIRE) -- Summit Business Media, LLC, a leading media company serving the business-to-business market, today announced its acquisition of Agent Media Corporation, a database and marketing company for the life, health and annuity segments of the insurance industry. The deal, led by The Bank of Montreal, was financed by Wind Point Partners, a private equity firm. Terms of the transaction were not disclosed.
Agent Media publishes Agent's Sales Journal (both National & Regional Editions) and Insurance Marketing. Other products include The Agent's Market Pack, a direct response agent recruitment tool with total distribution of 2.6 million, and eProducer Connect, an extensive email list of more than 1.6 million licensed agents and registered representatives. Agent Media has the most up-to-date, refined, and enhanced agent lists available in the industry. A summary of Agent Media's products can be found at www.agentmediacorp.com.
"Agent Media is an important investment for Summit because it extends our footprint in the insurance industry with market-leading products that complement our existing product lines, particularly in the life, health and annuity segments," said William F. Reilly, Chairman and CEO of Summit Business Media. "We will continue to make follow-on acquisitions as appropriate to support our growth strategy while also providing operating management with the resources and market overview to drive organic growth through new products, line extensions and alliances."
Joe Bennett, President of SB Media, LLC said, "As we continue to add to our platform of high-quality products, Agent Media offers one of the most extensive databases available for the life insurance industry. The acquisition will enhance our existing product line in the life and health market by giving us a wider range of products and services that put life and health producers in touch with insurance companies and wholesalers."
Roscoe Smith, President of Agent Media Corporation, will report to Chuck Hirsch, Group Vice President of Summit Business Media's Financial Services Group.
About Summit Business Media
Summit Business Media was formed through a partnership between William F. Reilly, former CEO of PRIMEDIA, and Wind Point Partners in an acquisition of Highline Media and Pfingsten Publishing in November 2006. Summit Business Media serves the insurance community with venerable assets such as Highline's National Underwriter Property/Casualty and Life/Health weeklies and SB Media's Life Insurance Selling and American Agent & Broker. Summit Business Media serves the financial services and insurance industries via magazines like Wealth Manager, Research and Futures magazines, reference tools like TaxFacts and Fire, Casualty and Surety Bulletins, and 150 other books, electronic products and conference events. It is also the leading data provider of financial and market information on insurance companies as well as the premier information source to the retail mortgage market via Mortgage Originator magazine. Additional information about Summit Business Media is available at www.summitbusinessmedia.com. Additional information about Highline Media and SB Media, LLC is available at www.highlinemedia.com and www.sbmediallc.com.