Publisher-association relationships aren’t foreign to the B2B world, but they rarely go this far.
Terms weren’t disclosed, though the deal is expected to close next month. Summit staff and leadership will become employees of the association, with operations remaining headquartered in Chicago.
The deal immediately gives PMMI, producer of five trade shows, an established year-round, multi-platform connection to its audience—something the company had been exploring on its own for the last 18 months, says Charles D. Yuska, president and CEO of PMMI.
“A robust publishing and multimedia presence will be the foundation of our efforts to build a year-round audience for our tradeshows and other products,” he says. “Building a platform would take several years and a significant financial investment with no guarantee of success. On the other hand, purchasing an existing, successful entity would mean much greater speed to market and a faster return on our financial investment.”
While integration on the marketing front is a central part of the deal, show sales will continue on separately from media sales for now, Yuska says, though cross-platform buys will be available.
The merger makes PMMI’s own magazine, PMT, redundant however. It’ll be absorbed into Summit’s title, Packaging World.