Adweek has a new owner, its fourth in six years.
Shamrock Capital, which traces its roots back to the family of Roy Disney, wrapped up an acquisition of the print, Web and events business from Toronto-based buyout firm Beringer Capital.
“Beringer came in with guns blazing and big plans for expansion, but once they realized how hard the business was, they turned into sellers,” said a source familiar with the company. Adweek has quietly been on the block for the past year, the source added.
Jeff Litvack is expected to remain as Adweek chief executive, as are Stephanie Paterik, executive editor, and Lisa Granatstein, editor and SVP of programs.
“We look forward to working with Adweek to continue to drive strong growth, both organically and through acquisitions.” said Laura Held, Partner at Shamrock Capital.