Today we are very happy to announce that Streetwise Media is being acquired by American City Business Journals (ACBJ), a company owned by Advance Publications.

American City Business Journals publishes weekly business journals in 40 major cities, has more than 45 business news web sites (www.bizjournals.com) and produces more than 700 signature business-to-business events nationally every year. It also owns the Sporting News (www.sportingnews.com), the nation’s oldest sports media company; Hemmings Motor News, serving the collector car market; Inside Lacrosse and NASCAR Illustrated.

ACBJ is a unit of Advance Publications Inc., which also owns Condé Nast Magazines, Parade magazine, Fairchild Publications, the Golf Digest companies, Newhouse Newspapers and cable television interests.

It has been quite the ride so far, and we believe that Whit Shaw, CEO of ACBJ, and his team are the perfect partners to help us to continue to innovate within local journalism online and to expand to new cities.  With ACBJ’s experience, nationwide platform and shared excitement for our new community-driven model for local media online, we believe Streetwise can become the country’s leading local news platform.

We’ve got a lot of people to thank for helping us get to this point – our investors, advisors, families, friends, and of course our community.  Unfortunately there are too many to thank in this post, but a few key people we’d like to give shout out’s to: first and foremost, John and Laurie Garbarino (my parents).  You guys have truly worn all the hats when it came Streetwise, thank you!  Second, Mark DeNino, Carolyn Harkins and the group down at TL Ventures, you guys were great partners and Streetwise never would have gotten to this point without you.  Thanks for believing in us.

While acquisitions are usually viewed as endings, we believe this is just the beginning for Streetwise.  We believe more and more each day in what we are doing and we love doing it.  We have a great team with people in Boston, DC and NYC and we are actively looking for more great people that believe great content and great community is the future of local media online.  We have only scratched the surface of the possibilities for innovation within this space and look forward to taking Streetwise to the next level with ACBJ.

In addition, the Streetwise team will be having a little celebration this evening, so give a shout if you want to dangle.

Full press release below.

American City Business Journals Acquires Streetwise Media

CHARLOTTE – American City Business Journals, the nation’s largest print and online publisher of local business news, has acquired Streetwise Media, a Boston-based digital media company that uses a community publishing platform to cover local news.

Terms of the transaction were not disclosed.

Streetwise currently operates two web sites – www.americaninno.com/boston in Boston and www.inthecapital.com in Washington, D.C. – that focus on local news about business, innovation and technology, education, politics and lifestyles. The sites are targeted at young professionals in their 20’s and 30’s Collectively, the Streetwise sites attracted more than 2.6 million unique visitors in the last month and had more than 9 million page views.

“In a short amount of time, Streetwise has attracted a very loyal and robust audience that is different from but complementary to what we do at our business journals in Boston, Washington and elsewhere,” said Whitney Shaw, president and chief executive officer of ACBJ.

“We’re looking forward to helping Streetwise grow its business significantly and feel that many of the things we experienced building American City have a direct application to their efforts.”

Streetwise founders Chase Garbarino and Kevin McCarthy will remain with the company as chief executive officer and chief technology officer, respectively.

The company will continue to be based in Boston.

“We are incredibly excited to be joining the ACBJ team and are honored to have the chance to work with Whit and his team,” said Garbarino. “ACBJ is the ideal partner to help us to continue to innovate within local journalism online and to expand to new cities. With the support of their experience and nationwide platform, we believe Streetwise can become the country’s leading local news platform.”

American City Business Journals publishes weekly business journals in 40 major cities, has more than 45 business news web sites (www.bizjournals.com) and produces more than 700 signature business-to-business events nationally every year. It also owns the Sporting News (www.sportingnews.com), the nation’s oldest sports media company; Hemmings Motor News, serving the collector car market; Inside Lacrosse and NASCAR Illustrated.

ACBJ is a unit of Advance Publications Inc., which also owns Condé Nast Magazines, Parade magazine, Fairchild Publications, the Golf Digest companies, Newhouse Newspapers and cable television interests.

Released by ACBJ
Media Contact:
Jeff Sauls
(704) 941-4403
[email protected]