Two Companies Merging Business Journal DivisionsAP , Associated Press
Oct. 31, 1986 2:46 PM ET
CINCINNATI (AP) _ Two major publishers of metropolitan business journals, Scripps Howard Business Journals and American City Business Journals, announced Friday they plan to merge by year's end.
Under the plan, Houston-based Scripps Howard Business Journals will merge into American City Business Journals, based in Kansas City, Mo., which will then be operating a merged total of 36 business journals.
Scripps Howard said it will receive approximately $24 million in the stock transaction.
Scripps Howard Business Journals now operates 10 publications, in Los Angeles, Seattle, San Diego, San Francisco, Dallas-Fort Worth, Houston, Phoenix, Ariz., Atlanta, south Florida and Washington, D.C.
American City Business Journals operates business publications in Albany, N.Y.; Baltimore; Buffalo, N.Y.; Charlotte, N.C.; Cincinnati; Columbus, Ohio; southern Connecticut; Denver; Honolulu; Indianapolis; Jacksonville, Fla.; Kansas City; Louisville, Ky.; Milwaukee; Philadelphia; San Francisco; San Jose, Calif.; St. Louis; Westchester County, N.Y.; Wichita, Kan., and, beginning Dec. 1, in Hartford-New Haven, Conn.
Officials of the companies said the merger effectively meshes the companies' strengths and publication locations.
Scripps Howard, Cincinnati-based communications company which has included the business journal division, owns and operates 21 daily newspapers, nine television stations, five radio stations, non-daily papers and shoppers, cable television systems and media-related businesses.