SourceMedia Acquires Insurance Broadcasting

NEW YORK, Feb. 2, 2011 /PRNewswire/ -- (http://www.myprgenie.com) -- SourceMedia has acquired Insurance Broadcasting, a provider of online news and live events to employee benefits professionals. The company's assets will be operated in tandem with Employee Benefit Adviser's market-leading media portfolio.

With the acquisition, SourceMedia adds 184,000 new professionals to the community it serves through its well-established and growing Employee Benefits Group. In addition to Employee Benefit Adviser, the group includes the monthly Employee Benefit News and its online service, as well as two live annual events: The Employee Benefit Adviser Summit and The Benefits Forum & Expo.

The $1.5 trillion employee benefit market is undergoing tremendous growth, both in size and complexity. Amid rising health insurance expenditures, legal and regulatory pressures, and evolving employee needs, benefit sponsors are increasingly demanding more from their trusted advisers, who in turn require trusted information sources they can rely on to stay current.

Insurance Broadcasting founder & CEO Walt Podgurski will continue as an executive with SourceMedia. Podgurski will provide direction for Insurance Broadcasting's offerings as they are integrated into the SourceMedia family of products.

"This acquisition extends the platform for SourceMedia's award-winning content and insight, enabling us to reach more advisers and brokers online," said Jim Callan, Group Publisher for the Employee Benefits Group. "It also allows us to deliver a larger audience of qualified professionals to our advertisers, marketing clients, and event sponsors."

"SourceMedia is committed to expanding and diversifying its portfolio of market-leading brands, both organically and through acquisitions," said Douglas J. Manoni, the company's Chief Executive Officer. "And the addition of Insurance Broadcasting to our Benefits Group gives evidence of our commitment to this strategy."

About SourceMedia

SourceMedia, an Investcorp company, is a diversified business to business media company serving the financial industry and the related fields of professional services and technology. SourceMedia offers its clients and subscribers professional information services -- both print and digital -- industry-standard data applications, in-depth seminars and conferences, and specialized marketing services.

SOURCE SourceMedia

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