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New Media to buy Journal Multimedia assets

New MediaInvestment Group Inc. struck a deal in the second quarter to buysubstantially all of the assets of Journal Multimedia, a multi-titlepublishing, events, media, and research company, for $18 million in cash.

The deal is expected to close later in the second quarter,subject to customary closing conditions, the company said April 28.

Journal Multimedia's assets include regional businessjournals the Central Penn BusinessJournal, NJBIZ, and Lehigh Valley Business; Best CompaniesGroup, a research division that partners with local businesses and mediaoutlets to create "Best Places to Work" publications and events; Central Penn Parent, a monthlypublication in East and Central Pennsylvania; Pet Age, a trade magazine serving the pet industry; and FGV Media,a digital marketing company that produces video and web services for small andmedium-sized businesses.