DECEMBER 2009 SPECIAL ALERT

NewBay Media, Parent of Residential Systems,  Acquires TWICE & Others from RBI

<December 1, 2009>A breaking newsflash from TWICE Magazine announced this morning that Reed Business Information-US (RBI) has sold TWICE Magazine, Broadcasting & Cable, and Multichannel News to NewBay Media - parent to several magazines including Residential Systems Magazine. While many executives from both parties mentioned rumors circulating recently, the move was a surprise for many others in the business.

Steve Palm, CEO of NewBay Media was quoted as saying, "With this acquisition NewBay adds significant depth and breadth to its existing portfolio of broadcast properties, including TV Technology and Television Broadcast, and consumer electronics properties, including Residential Systems."

See the breaking report from TWICE Magazine here...