Canadian Magazine Industry News
10 August 2010, TORONTO
Thomson Reuters purchases CLB Media law magazines
[This story has been updated] Carswell, a division of Thomson Reuters has purchased Law Times and its sister publications Canadian Lawyer, Canadian Lawyer InHouse and Canadian Lawyer 4Students from CLB Media.
The sale of the legal group of publications is part of a larger deal which will see Canada Law Book, a division of The Cartwright Group Ltd. align with Carswell, according to a story from Law Times.
A statement from CLB Media owner The Cartwright Group’s president Stuart Morrison says The Cartwright Group’s owner Ian Cartwright intends to consolidate his personal assets as part of his estate plan and make a donation to the charities of his choice. “He has concluded that the sale of Canada Law Book, CLB Media Inc., and Dye & Durham will allow him to make these donations,” said the statement.
The legal magazines, which have been operating as part of CLB Media are being separated from the media group for sale to Carswell. CLB Media’s legal directories are included in the sale, according to the report.
Most remaining CLB Media publications and websites are the subject of a formal “letter of intent” from Annex Publishing & Printing Inc. A deal which, if all passes due diligence should go through by the end of August, says Annex President and CEO Michael Fredericks.
CLB Media’s location will remain unchanged for at least the next year as Annex does an assessment, says Frederick and there are no plans for changes in staff. “We have no plans for letting go of CLB Media staff,” he says. “We are looking to run the titles on a go forward basis.”
The titles involved in the deal are complimentary to those already owned by Annex, says Fredericks. “In fact we have some titles that might allow us to do some re-expansion of CLB Media titles like Specialty Wood, Logging Management and Mill Product News that were previously shut down.”
Woodworking and Canadian Kitchen and Bath magazines are not included in the deal between Annex and CLB Media. Those titles were purchased by publisher Bert Kleiser. One job is known to be impacted in that transaction.
The sale of the legal group of publications is part of a larger deal which will see Canada Law Book, a division of The Cartwright Group Ltd. align with Carswell, according to a story from Law Times.
A statement from CLB Media owner The Cartwright Group’s president Stuart Morrison says The Cartwright Group’s owner Ian Cartwright intends to consolidate his personal assets as part of his estate plan and make a donation to the charities of his choice. “He has concluded that the sale of Canada Law Book, CLB Media Inc., and Dye & Durham will allow him to make these donations,” said the statement.
The legal magazines, which have been operating as part of CLB Media are being separated from the media group for sale to Carswell. CLB Media’s legal directories are included in the sale, according to the report.
Most remaining CLB Media publications and websites are the subject of a formal “letter of intent” from Annex Publishing & Printing Inc. A deal which, if all passes due diligence should go through by the end of August, says Annex President and CEO Michael Fredericks.
CLB Media’s location will remain unchanged for at least the next year as Annex does an assessment, says Frederick and there are no plans for changes in staff. “We have no plans for letting go of CLB Media staff,” he says. “We are looking to run the titles on a go forward basis.”
The titles involved in the deal are complimentary to those already owned by Annex, says Fredericks. “In fact we have some titles that might allow us to do some re-expansion of CLB Media titles like Specialty Wood, Logging Management and Mill Product News that were previously shut down.”
Woodworking and Canadian Kitchen and Bath magazines are not included in the deal between Annex and CLB Media. Those titles were purchased by publisher Bert Kleiser. One job is known to be impacted in that transaction.
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| Jaded says: | |
Wow, Torstar really seems to be on a mission to bankrupt one magazine after another.... |
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| Lorene Shyba says: | |
Full of terrific information, Thanks!... |
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