American City Business Journals

Last updated

American City Business Journals, Inc.
Company type Subsidiary
Industry Publishing
Founded1982;43 years ago (1982) [1]
FounderMike Russell
Headquarters Charlotte, North Carolina, U.S.
Area served
United States
Key people
Whitney Shaw (chairman and CEO)
ProductsMagazines
newspapers
mass media
Number of employees
1,400 (2021) [2]
Parent Advance Publications (1995–present)
Website acbj.com
The company's corporate headquarters in Charlotte, North Carolina American-City-Business-Journals-corporate-office.JPG
The company's corporate headquarters in Charlotte, North Carolina

American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes The Business Journals, which contains local business news for 44 markets in the United States with each market's edition named for that market, and also publishes Hemmings Motor News and Inside Lacrosse . The company is owned by Advance Publications receives revenue from display advertising and classified advertising in its weekly newspaper and online advertising on its website and from a subscription business model.

Contents

The bizjournals.com website, using the overarching online title The Business Journal, contains local business news from various cities in the United States, along with an archive that contains more than 5 million business news articles published since 1996. As of August 2021, it receives over 3.6 million readers each week. [3]

History

American City Business Journals, Inc. was founded in 1982 by Mike K. Russell with the launch of the Kansas City Business Journal. [1] Three years later the business became a public company via an initial public offering and was traded as an over the counter stock. [1] Starting 1985, ACBJ set out to acquire as many as fifty business newspapers across the United States. The goal was to establish a network of newspapers selling national advertising packages. [4]

In 1986, ABJC acquired all the publications owned by Mark Vittert and his company, Business Journal Publications Corp, for $40 million. The sale included business journals in Cincinnati, Baltimore, Pittsburgh, Philadelphia and St. Louis. [1] Later that year American City merged with Scripps Howard Business Journals. At the time the division of Scripps-Howard Newspapers operated publications in 10 cities: Los Angeles, Seattle, San Diego, San Francisco, Dallas-Fort Worth, Houston, Phoenix, Atlanta, Washington, D.C and Miami/Fort Lauderdale. [5]

After expanding to 35 weeklies, ABJC faced mounting debts and losses reaching $13.5 million in the first nine months of 1987. This resulted from sales of national advertising packages falling short of goals amid the 1987 stock market crash. The company began divesting in 1988. ACBJ sold eight publications to various unnamed buyers, including five business newspapers in Westchester, Rochester, Richmond, Hartford and Southern Connecticut; St. Louis Magazine and partial-ownership of two legal papers: St. Louis Daily Record and St. Louis Countian. [6] Two weeks later ACBJ sold another six of its business newspapers in Philadelphia, Pittsburgh, Milwaukee, Indianapolis and San Jose and Sacramento to Metro Collegiate Publications for $46.3 million. [7] Then Russell sold his controlling stake in the company. [8]

In 1989, Shaw Publishing, Inc., owned by Ray Shaw and The Oklahoma Publish Co., purchased a million shares of common stock in ACBJ for $22.75 million. Shaw was then elected as the company's chairman and chief executive officer. Previously he retired earlier in the year from working as president of Dow Jones & Company. [9] Shaw served as ABJC's chairman for two decades. Under his leadership, the company moved its headquarters from Kansas City, Missouri, to Charlotte, North Carolina, and greatly increased the number of its publications. [2] In 1995, ACBJ was acquired by Advance Publications for US$258.8 million (equivalent to $472.8 million in 2023). [10] A year later ACBJ acquired CityMedia Inc., which published six business journals in Boston, Philadelphia, Pittsburgh, Milwaukee, Minneapolis and Sacramento. [11]

In 2001, the company partnered with Microsoft to provide content for bcentral.com. [12]

In 2007, the company acquired Inside Lacrosse. [13]

In 2012, sister company Condé Nast redirected Portfolio.com to the startups page of ACBJ. [14]

In 2020, the company launched a book publishing partnership. [15] [16] [17]

Annual awards

The publication publishes the following annual awards for each city:

The Minneapolis-St. Paul Business Journal's Best Places to Work awards Best Places To Work awards.jpg
The Minneapolis-St. Paul Business Journal's Best Places to Work awards

List of publications

City business publications

As of 2023, American City Business Journals (ACBJ) publishes print copies of 44 different newspapers, addressing business news in 44 different cities, generally under the names City or Region name + Business + Journal (33 cities) or First (5) or Times (2) or Chronicle (1) or Courier (1) or News (1) or Review (1).

TitleCityNote
Albany Business Review Albany, New York Founded in 1974 as Capital District Business Review. Also previously known as Capital District BusinessReview and The Business Review.
Albuquerque Business First Albuquerque, New Mexico Formerly known as New Mexico Business Weekly until the name was changed in December 2012. [22]
Atlanta Business Chronicle Atlanta, Georgia Acquired in 1986 from merger with Scripps Howard Business Journals. [23]
Austin Business Journal Austin, Texas
Baltimore Business Journal Baltimore, Maryland Acquired in 1986 from Business Journal Publications Corp. [1]
Birmingham Business Journal Birmingham, Alabama Founded in 1983 by Michael C. Randle and Tina Verciglio-Savas. Acquired in 1999. [24]
Boston Business Journal Boston, Massachessets Founded by Robert Bergenheim and launched on March 2, 1981. The newspaper was originally named "P&L The Boston Business Journal" ("P&L" stood for profit and loss). However, "P&L" was later dropped from the name. [25] Acquired in 1996 with purchase of CityMedia Inc. [11]
Buffalo Business First Buffalo, New York
Charlotte Business Journal Charlotte, North Carolina
Cincinnati Business Courier Cincinnati, Ohio Acquired in 1986 from Business Journal Publications Corp. [1]
Columbus Business First Columbus, Ohio
Dallas Business Journal Dallas, Texas Acquired in 1986 from merger with Scripps Howard Business Journals. [23]
Dayton Business Journal Dayton, Ohio
Denver Business Journal Denver, Colorado Acquired by ACBJ in 1989
Houston Business Journal Houston, Texas Acquired in 1986 from merger with Scripps Howard Business Journals. [23]
Jacksonville Business Journal Jacksonville, Florida
Kansas City Business Journal Kansas City, Missouri The first publication of the eventual ACBJ, co-founded by Michael K. Russell and William Worley in August 1982. [26]
Louisville Business First Louisville, Kentucky Founded on August 13, 1984, by publisher Mike Kallay. [27]
Memphis Business Journal Memphis, Tennessee Founded by Ward Archer as Mid-South Business in 1979. [28]
Milwaukee Business Journal Milwaukee, Wisconsin Acquired in 1996 from CityMedia Inc. [11]
Minneapolis / St. Paul Business Journal Minneapolis, Minnesota Acquired in 1996 from CityMedia Inc. [11]
Nashville Business Journal Nashville, Tennessee
Orlando Business Journal Orlando, Florida Founded in 1984. [29]
Pacific Business News Honolulu, Hawaii Started by entrepreneur George Mason and former Honolulu Star-Bulletin editor John Ramsey. [30] In 1983, Mason sold the newspaper to ACBJ.
Philadelphia Business Journal Philadelphia, Pennsylvania Founded in 1982, acquired in 1996 with purchase of CityMedia Inc. [11]
Phoenix Business Journal Phoenix, Arizona Founded in 1980. Acquired in 1986 from merger with Scripps Howard Business Journals. [23] [31]
Pittsburgh Business Times Pittsburgh, Pennsylvania Founded in 1981, [32] acquired in 1986 from Business Journal Publications Corp. [1] Sold in 1988. [33] Reacquired in 1996 with purchase of CityMedia Inc. [11]
Portland Business Journal Portland, Oregon
Puget Sound Business Journal Seattle, Washington Acquired in 1986 from merger with Scripps Howard Business Journals. [23] In 2010, the newspaper was a finalist for a Pulitzer Prize. [34]
Sacramento Business Journal Sacramento, California Acquired in 1996 with purchase of CityMedia Inc. [11]
St. Louis Business Journal St. Louis, Missouri Established in 1980 with Dan Keough at the helm; acquired in 1986 with purchase of Business Journal Publications by ACBJ. [1]
San Antonio Business Journal San Antonio, Texas
San Francisco Business Times San Francisco, California Acquired in 1986 with purchase of Scripps Howard Business Journals. [23] In 2008, East Bay Business Times was merged into the San Francisco Business Times. [35]
Silicon Valley Business Journal San Jose, California Founded as San Jose Business Journal
South Florida Business Journal Miami, Florida Founded in 1980 as Miami Business, it changed its name in 1983. [36] Acquired in 1986 from merger with Scripps Howard Business Journals. [23]
Tampa Bay Business Journal Tampa, Florida Founded as Tampa Bay Business in 1981, renamed for a period starting in late 1990s as The Business Journal Serving Tampa Bay.
Triad Business Journal Greensboro, North Carolina Founded by ACBJ in 1998. [37]
Triangle Business Journal Raleigh, North Carolina
Washington Business Journal Washington, D.C. Acquired in 1986 from merger with Scripps Howard Business Journals. [23]
Wichita Business Journal Wichita, Kansas

Other publications

Online only

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References

  1. 1 2 3 4 5 6 7 8 Singer, Dale (September 30, 1986). "Business Journal, St. Louis Magazine Sold". St. Louis Post-Dispatch . Vol. 108, no. 273. St. Louis, Missouri: Pulitzer, Inc. p. 7C – via Newspapers.com.
  2. 1 2 Shaw, Whitney (July 20, 2009). "ACBJ Chairman Ray Shaw dies at 75". Jacksonville Business Journal. Archived from the original on December 28, 2010. Retrieved January 3, 2025.
  3. ↑ "American City Business Journals". acbj.com. Retrieved August 2, 2021.
  4. ↑ Davis, Jim (October 29, 1985). "Business press aims to expand". The Kansas City Times. p. 48.
  5. ↑ "2 publishers of business newspapers to merge". The Courier-Journal . Associated Press. November 1, 1986. p. 12.
  6. ↑ "Business First's Parent Selling 8 Publications". The Buffalo News. Associated Press. February 6, 1988. p. 9.
  7. ↑ Demick, Barbara (February 29, 1988). "From Concerts To Consolidations, Publisher Evolves With His Readers". The Philadelphia Inquirer . Archived from the original on October 17, 2015.
  8. ↑ "Trying to rebuild business journals | A new chairman tackles financially troubled American City, parents of Pacific Business News". Honolulu Star-Bulletin. New York Times. September 11, 1989. p. 15.
  9. ↑ "Oklahoma-Tied Publishing Firm Buys Stock". The Daily Oklahoman. June 29, 1989. p. 53.
  10. ↑ Reiser, Emon (August 14, 2020). "This Week in 1995: Advance Publications buys ACBJ". American City Business Journals.
  11. 1 2 3 4 5 6 7 Margolies, Dan (June 30, 1996). "American City Business Journals agrees to buy six weeklies". American City Business Journals.
  12. ↑ "Microsoft and American City Business Journals Form Alliance" (Press release). Microsoft. January 22, 2001.
  13. ↑ "American City to buy Inside Lacrosse Magazine". American City Business Journals. November 20, 2007.
  14. ↑ Murray, Lance (June 13, 2012). "Upstart Business Journal launches with focus on entrepreneurship". American City Business Journals.
  15. ↑ "Bizwomen's parent company partners with Advantage Media Group to launch Business Journals Books". American City Business Journals. July 22, 2020.
  16. ↑ "Business Journal Books Starts Advantage Books". City Business Journals. July 21, 2020.
  17. ↑ "Business Journals Books website".
  18. ↑ Kass, Mark (January 5, 2012). "Business Journal names Forty under 40 winners".
  19. ↑ "Columbus Business First 40 under 40 search". American City Business Journals.
  20. ↑ Kuehn, Nancy (August 16, 2018). "Best Places to Work".
  21. ↑ "The Best Places to Work for in Los Angeles 2019: A Look at the Winners". American City Business Journals. August 16, 2019.
  22. ↑ Anderson, Ian (December 12, 2012). "New Mexico Business Weekly is now Albuquerque Business First" . Albuquerque Business First. Archived from the original on December 28, 2012. Retrieved November 4, 2023.
  23. 1 2 3 4 5 6 7 8 "Two Companies Merging Business Journal Divisions". Associated Press . October 31, 1986.
  24. ↑ "Birmingham Business Journal celebrates 25 years". American City Business Journals. January 11, 2009.
  25. ↑ Stickgold, Emma (June 10, 2010). "Robert Bergenheim; founded Boston Business Journal". The Boston Globe .
  26. ↑ Kaberline, Brian (March 1, 2009). "KCBJ co-founder, developer Mike Russell dies at age 69". American City Business Journals.
  27. ↑ Bowling, Caitlin (August 15, 2014). "Founding father: First publisher Mike Kallay recounts a life of journalism, Business First's launch". American City Business Journals.
  28. ↑ Donahoe, Jane A. (June 11, 2011). "Barney DuBois, journalist and MBJ co-founder, dies". American City Business Journals.
  29. ↑ "40-YEAR ANNIVERSARY: Orlando Business Journal". West Orange Chamber. Retrieved June 18, 2024.
  30. ↑ Magin, Janis L. (November 9, 2017). "John Ramsey, first editor of Pacific Business News, dies at 94". American City Business Journals.
  31. ↑ Lowery, Ilana (November 2, 2015). "35th Anniversary: 'Business Journal' has grown up with Valley". American City Business Journals.
  32. ↑ "Pittsburgh Post-Gazette – Google News Archive Search".
  33. ↑ "Journals acquired". The Pittsburgh Press . October 18, 1988.
  34. ↑ Anderson, Rick (April 13, 2010). "Biz Journal: A Pulitzer in Effort, at Least". Seattle Weekly . Retrieved September 1, 2016.
  35. ↑ "East Bay Business Times prints last edition". Pleasanton Weekly. October 10, 2008. Retrieved January 3, 2025.
  36. ↑ Reiser, Emon; Meléndez, Mel (December 25, 2020). "40 Years of News". American City Business Journals.
  37. ↑ Chamis, Eleni (March 10, 1998). "2nd business weekly to appear in Triad". Winston-Salem Journal. p. 21.
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