Shamrock Capital Announces Acquisition of Adweek
Transaction reflects strength of the company’s diversified business and leading market position
LOS ANGELES – June 2, 2020 – Shamrock Capital, a Los Angeles-based investment firm, today announced that it has acquired Adweek, an industry leader in coverage of the advertising and brand marketing ecosystem, from Beringer Capital. Terms of the transaction were not disclosed.
“Adweek has been a critical source of information and insights for the marketing and advertising community for decades,” said Laura Held, Partner at Shamrock Capital. “Adweek’s experienced management team has done a tremendous job of building on its established brand, expanding its industry coverage and its product offering to further solidify its leading position in the marketplace. We look forward to working with Adweek to continue to drive strong growth, both organically and through acquisitions.”
“Shamrock’s strong media expertise makes the firm an ideal partner for Adweek,” said Jeffrey Litvack, CEO of Adweek. “Over the past four years, management has expanded Adweek’s focus beyond its award-winning journalism to include a burgeoning education platform, three leading industry tentpole events (Brandweek, Challenger Brands, and NexTech), a premium corporate subscription offering, and deeper connections with the CMO community through the acquisition of CMO Moves. We are excited to collaborate with Shamrock to continue innovating, expanding our offering, and enhancing Adweek’s strong brand and leadership in the market.”
Investment bank CG Petsky Prunier, part of Canaccord Genuity, advised Adweek and Beringer Capital on the transaction. Terms of the transaction were not disclosed.
Adweek is the leading source of news and insight serving the brand marketing ecosystem. First published in 1979, Adweek’s award-winning coverage reaches an engaged audience of more than 6 million professionals across platforms including print, digital, events, podcasts, newsletters, social media, and mobile apps. As a touchstone of the advertising and marketing community, Adweek is an unparalleled resource for leaders across multiple industries who rely on its content to help them do their job better.