NU Parent Acquires Insurance Advocate
Highline Media LLC, the parent company of National Underwriter, has acquired the 114-year-old weekly Insurance Advocate magazine. Terms of the transaction were not disclosed.
Along with the deal for the publication, which covers New York, New Jersey and Connecticut, rights were acquired to:
New York Financial Services Advisora life-health magazine.
CRACKDOWN!a fraud prevention magazine, with related anti-fraud conferences.
Several insurance book titles.
In addition to the Insurance Advocates Associate Publisher, Stephen Acunto, Associate Editor Philip Gusman will remain with the magazine, and will be relocated to the National Underwriter Companys Hoboken offices by the end of October. They join the Insurance Magazine Division headed by Tom Fowler, vice president and group publisher of NUCO.
Highline Media was formed in October 2003 by Spire Capital Partners, L.P., and Andrew L. Goodenough, its president and CEO, to acquire business-to-business information assets in the financial services, insurance and real estate fields. Highlines first acquisition was NUCO, for which Goodenough now serves as president and CEO. NUCO recently added a major insurance and banking data division, acquired from Thomson.
Insurance Advocate joins Florida Underwriter in a growing stable of regional publications at NUCO, which now publishes regionals directed to the concerns of the second- and fourth-largest U.S. insurance markets.
“Acquisition of the Insurance Advocate and its related publications is a logical expansion move for NUCO, to gain depth in the most important insurance market in the country,” said Goodenough.
“Insurance Advocate is an institution whose stewardship requires particular dedication and a special sense of service to the industry, to its professionals, to its venerable past, and to its promising future,” said Stephen Acunto Sr., president of CINN Worldwide Inc. and publisher of the Insurance Advocate from 1985-2004.
Reproduced from National Underwriter Edition, September 9, 2004. Copyright 2004 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.