Home Accents Today, sister titles acquired
July 1, 2013,
The announcement was made today by Matthew Slaine, president of FT Media Holdings, parent company to Progressive Business Media. The company is headquartered in Greensboro, N.C., and retains offices in New York.
The new owners acquired the company from Florida-based Sandow Media, which bought the titles in 2010. Terms were not disclosed.
In making the announcement, Slaine said Kevin Castellani, who has been with the Furniture/ Today group since 1993, has assumed the title of president of Progressive Business Media and remains publisher of Furniture/Today. He reports to Slaine.
"We will be maintaining our staff of approximately 75 and are currently seeking to hire additional employees as we build our infrastructure in Greensboro. We are looking at several new and exciting opportunities and look forward to significant growth in North Carolina and around the country," Slaine said.
"We picked the name Progressive Business Media because it underscores the DNA of our company. Moving forward we will use the company's powerful brands, both in print and online, to expand through acquisitions, organic growth, digital efforts, conferences, events, marketing services and more," Slaine noted.
"For our team, this is a long-term investment in a high-quality and growing business that serves the changing needs of a large global industry," Slaine said. "I see a compelling opportunity to further grow the group's multiple brands into various communication platforms and new business channels where our creativity and expertise can add significant value to our audience and clients."
"I am excited about the incredible opportunities this acquisition represents and am eager to partner with Matt," Castellani said. "His business acumen and history of serving on the boards of a number of business technology companies in New York and London will prove invaluable as we grow our business."
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