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Trade Press Media Group Inc., a 100-plus-year-old Milwaukee-based business media company, has been acquired by Forum Media Group, headquartered in Merching, Germany.Founded in 1915, Trade Press Media Group is a business-to-business media company serving the rail industry with Progressive Railroading magazine, Progressive Railroading.com, the Car & Locomotive Yearbook, the Track Yearbooks, RailTrends Conference and the Secure Rail Conference."After almost 30 years as chief executive officer and owner, I'm excited and pleased to turn over control of our company to Forum Media Group, which has a global footprint with operating subsidiaries in 17 countries," said Bob Wisniewski. "For Trade Press staff members, I'm also particularly pleased to have found a buyer committed to maintaining the Milwaukee office, positioning it as their foothold for entering the U.S. market. Forum is a company that is known for its excellence, mirroring our own firm's reputation for market leadership and for quality."For Forum Media Group Chairman Ronald Herkert, the acquisition marks an ideal starting point for FMG's foray into the U.S. market."We are very happy to welcome Trade Press Media Group into the Forum family and look forward to continue together the proud history of this long-standing company," said Herkert."For FMG, this is an important milestone towards our vision of becoming a globally recognized media company," added Roland Hradek, supervising Forum board member. "I am excited to work with the U.S. team to take advantage of synergies that will drive our continuous mutual growth."Jeffrey J. Schenk, chief operating officer of Trade Press Media Group, will immediately assume the position of CEO/general manager. The company will operate as a subsidiary of Forum Media Group.Kirk Bastyr will remain as publisher of Progressive Railroading. All editorial and sales staff members also will remain with the magazine.Terms of the transaction were not disclosed.
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