Active Interest Media chairman and CEO Efrem "Skip" Zimbalist III announced that the company acquired a group of key assets from Dominion Enterprises, including Soundings Trade Only, Soundings, Woodshop News and PassageMaker magazines, and the popular Trawler Fest events.
The terms of the transaction were not disclosed.
“These acquisitions allow AIM to expand our marine, consumer enthusiast and B2B portfolios with highly differentiated print, digital and event properties,” Zimbalist said in a statement.
The assets include PassageMaker and PassageMaker’s Trawler Fest events, an international publication and events business that covers boats, boaters and the lifestyle of powerboat cruising; Soundings, a magazine for recreational boaters; Soundings Trade Only, the premier magazine and website dedicated to the marine industry professional; and Woodshop News, the magazine and website for small-shop professional woodworkers.
“Soundings, Trade Only, PassageMaker and the Trawler Fest events add important dimensions to our existing shows, print and websites in the marine industry,” AIM president and chief operating officer Andy Clurman said in a statement. “Woodshop News is also a fit with AIM’s Home Buyer Media Group that serves a wide spectrum of custom home builders and craftsmen. In all, this is a rare opportunity to bring together great brands and excellent teams that share a passion for the communities they serve.”
Operationally, the PassageMaker and Soundings Publications staffs will remain in place in their present locations in Annapolis, Md., and Essex, Conn., respectively. The group will report to Gary DeSanctis, AIM’s Marine Group vice president of sales and the publisher of Yachts International. With the acquisition, DeSanctis was promoted to group publisher of AIM Marine.