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by the Agri Marketing editors
In a blockbuster announcement last month, Penton Media, New York, NY, unveiled it had acquired Farm Progress, St. Charles, IL, (Chicago area) from Fairfax Media, Sydney, Australia.
The purchase price was $79.9 million before certain adjustments. Penton reports the acquisition significantly boosts its U.S. agricultural market coverage, connecting it to nearly 75% of the 2.2 million farms and ranches in the U.S., and an estimated 85% of the nation's annual agricultural gross domestic product.
Included in the acquisition were Farm Progress's 18 state and regional farm magazines and web sites (including Prairie Farmer and Wallaces Farmer), custom media group, four farm shows (including the Farm Progress Show and Husker Harvest Days), Farm Progress America Broadcasting (hosted by Max Armstrong) and the Feedstuffs and Tack n' Togs brands.
Penton Media's agricultural properties include its crops group, anchored by Corn & Soybean Digest, Farm Industry News and Hay & Forage Grower; its livestock group, featuring BEEF and National Hog Farmer, and its Farm Press unit. All have related...