The BIG shoe finally drops

The trade magazines of the Business Information Group and the online publishing business EcoLog, both owned by Hollinger International Inc., have been sold to Glacier Ventures International Corporation of Vancouver in a deal (including a slew of community newspapers in B.C.) worth about $135 million. Of that, the value of the 37 trade and online magazines and Ecolog probably account for about $40 million. The deal, which involves consolidating a number of share holdings, will close February 3, 2006. In what must have been the longest dance ever, Canada's second largest group of trade titles had been rumoured up for sale off and on for almost 10 years. Clearly Glacier had the horsepower -- and Hollinger the problems -- that made it possible to close a deal this time around.

The deal involves

• the Business Information Group ("BIG"), which publishes a variety of trade magazines, directories, newsletters, electronic databases and specialty websites
• a group of daily and weekly newspaper and related printing operations in British Columbia
• Eco Log, an electronic information and report service provider for the environmental sector
  

With the acquisition of BIG, Glacier's trade publication group will consist of the largest agricultural publication group in Western Canada, the Business In Vancouver Media Group, and the 73 BIG titles. Glacier's business & professional information group will include Specialty Technical Publishers which publishes regulatory & compliance information, CD Pharma Interactive Medical Productions which develops electronic interactive continuing medical education programs for doctors, and a variety of directories, specialty websites and electronic information published by the Business Information Group.

There's no indication yet that Glacier intends to sell off any individual magazine titles. Many of BIG's titles are direct competitors with Rogers titles, particularly in the plastics and machinery sectors. In Mastheadonline today, BIG CEO Bruce Creighton was quoted as saying he is staying on the board of the company, although he declined to say whether he holds any equity.

A profile of Glacier and its chief executive officer Jonathan Kennedy is carried in the about-to-be distributed January-February issue of Masthead magazine.

The titles in the Business Information Group include the following (which may in turn include various annuals and directories):
• Bodyshop
• Broadcaster
• Cablecaster
• Cabling Networking Systems
• Canadian Architect
• Canadian Consulting Engineer
• Canadian Industrial Equipment News
• Canadian Mining Journal
• Canadian Plastics
• Canadian Transportation & Logistics
• Canadian Underwriter
• Hardware & Home Centre Magazine
• Dental Practice Management
• Gifts and Tablewares
• HazMat Management Magazine
• Jobber News
• l'automobile, Carrosserie et mecanique
• Laboratory Product News
• Les Papetières du Québec
• Machinery & Equipment MRO
• Motortruck
• OHS Canada Magazine
• Oral Health Journal
• Pulp & Paper Canada
• Service Station & Garage Management
• Solid Waste & Recycling
• The Northern Miner
• Truck News
• Truck West