What is American City Business Journals, Inc. (ACBJ) and what is its primary business?

American City Business Journals, Inc. (ACBJ) is an American newspaper publisher headquartered in Charlotte, North Carolina. Its primary business involves publishing local business news across numerous markets in the United States through its flagship publication, "The Business Journals," and also includes specialized publications like "Hemmings Motor News" and "Inside Lacrosse."

When was American City Business Journals, Inc. founded, and by whom?

American City Business Journals, Inc. was founded in 1982 by Mike K. Russell. The company's first publication was the "Kansas City Business Journal."

What was the initial strategy for American City Business Journals after its founding?

Following its founding in 1982, ACBJ's initial strategy involved acquiring numerous business newspapers across the United States, aiming to establish a network capable of selling national advertising packages. This expansion effort was particularly active starting in 1985.

How did ACBJ become a public company, and what was its stock traded as?

Three years after its founding in 1982, ACBJ became a public company through an initial public offering. Its stock was subsequently traded over the counter.

What significant acquisitions did ACBJ make in 1986?

In 1986, ACBJ made two major acquisitions: first, it purchased all publications owned by Mark Vittert's Business Journal Publications Corp. for $40 million, which included journals in Cincinnati, Baltimore, Pittsburgh, Philadelphia, and St. Louis. Later that year, ACBJ merged with Scripps Howard Business Journals, which operated publications in 10 cities including Los Angeles, Seattle, San Diego, San Francisco, Dallas-Fort Worth, Houston, Phoenix, Atlanta, Washington, D.C., and Miami/Fort Lauderdale.

What financial difficulties did ACBJ face in the late 1980s, and what actions were taken?

By the first nine months of 1987, ACBJ faced significant financial challenges, including mounting debts and losses totaling $13.5 million. This downturn was partly attributed to national advertising package sales falling short of expectations, exacerbated by the 1987 stock market crash. In response, the company began divesting assets in 1988, selling off several publications and eventually seeing its controlling stake sold.

Who acquired a controlling stake in ACBJ in 1989, and what leadership roles did they assume?

In 1989, Shaw Publishing, Inc., owned by Ray Shaw and The Oklahoma Publish Co., purchased a significant stake in ACBJ. Ray Shaw was subsequently elected as the company's chairman and chief executive officer.

What changes occurred under Ray Shaw's leadership at ACBJ?

Under Ray Shaw's two-decade tenure as chairman, ACBJ relocated its headquarters from Kansas City, Missouri, to Charlotte, North Carolina. The company also significantly increased the number of its publications during this period.

When and for how much was ACBJ acquired by Advance Publications?

American City Business Journals (ACBJ) was acquired by Advance Publications in 1995 for $258.8 million, a sum equivalent to $472.8 million in 2023.

What was the significance of the 2001 partnership between ACBJ and Microsoft?

In 2001, ACBJ partnered with Microsoft to provide content for Microsoft's bcentral.com website, indicating an early move towards digital content distribution and collaboration with major tech companies.

Which specialized publications has ACBJ acquired or launched over the years?

ACBJ acquired "Inside Lacrosse" in 2007. It also launched "Hemmings Muscle Machines" in 2003. The company acquired "Hemmings Motor News" and related publications in April 2002.

How does American City Business Journals generate revenue?

ACBJ generates revenue through multiple streams, including display advertising and classified advertising in its weekly newspapers, as well as online advertising on its websites. Additionally, it utilizes a subscription business model for its content.

What is the role and reach of the bizjournals.com website?

The bizjournals.com website serves as the overarching online platform for "The Business Journals," aggregating local business news from various U.S. cities. It features an extensive archive of over 5 million business news articles published since 1996 and, as of August 2021, attracts more than 3.6 million readers weekly.

What are the "Forty Under 40" awards published by The Business Journal?

The "Forty Under 40" awards are an annual recognition published by "The Business Journal" in each of its markets, highlighting the 40 most successful entrepreneurs under the age of 40. This award program has been in place since 1992.

Describe the "Best Places to Work" awards issued by The Business Journal.

The "Best Places to Work" awards, published by "The Business Journal" in various local areas, identify and rank companies based on their employee experience. The rankings are determined through surveys assessing leadership, corporate culture, and communication, with methodologies and the number of ranked employers potentially varying by city.

How many city business publications does ACBJ currently publish, and what are the common naming conventions?

As of 2023, American City Business Journals (ACBJ) publishes print copies of 44 different newspapers focused on business news in 44 distinct cities. The titles commonly follow a pattern such as "[City/Region Name] Business Journal" (used in 33 cities), or variations like "First," "Times," "Chronicle," "Courier," "News," or "Review."

Which publication was the first launched by American City Business Journals?

The first publication launched by American City Business Journals was the "Kansas City Business Journal" in August 1982, co-founded by Michael K. Russell and William Worley.

When was the Atlanta Business Chronicle acquired by ACBJ?

The Atlanta Business Chronicle was acquired by ACBJ in 1986 as part of its merger with Scripps Howard Business Journals.

What was the original name of the Boston Business Journal, and when was it founded?

The Boston Business Journal was founded on March 2, 1981, originally named "P&L The Boston Business Journal." The "P&L" designation, standing for profit and loss, was later dropped from the name.

Which publication did ACBJ acquire in 1986 from Business Journal Publications Corp.?

In 1986, ACBJ acquired the Baltimore Business Journal from Business Journal Publications Corp. as part of a larger $40 million deal.

What is the history behind the Birmingham Business Journal's acquisition?

The Birmingham Business Journal was founded in 1983 by Michael C. Randle and Tina Verciglio-Savas, and it was subsequently acquired by ACBJ in 1999.

Which ACBJ publication was a finalist for a Pulitzer Prize in 2010?

The Puget Sound Business Journal, serving Seattle, Washington, was a finalist for a Pulitzer Prize in 2010.

What is the relationship between the East Bay Business Times and the San Francisco Business Times?

The East Bay Business Times was merged into the San Francisco Business Times in 2008.

When did the Albuquerque Business First change its name from New Mexico Business Weekly?

The Albuquerque Business First changed its name from "New Mexico Business Weekly" in December 2012.

What is the "The Business Journals" website, and what does it offer?

"The Business Journals" website, bizjournals.com, serves as the main online portal for ACBJ's network of local business publications. It provides local business news from various cities, an archive of millions of articles, and curates current stories from across the company's websites.

Who is the current key person mentioned for ACBJ, and what is their role?

As of the information provided, Whitney Shaw is listed as the chairman and CEO of American City Business Journals.

What is the number of employees at American City Business Journals as of 2021?

As of 2021, American City Business Journals employed 1,400 individuals.

Which other publications, besides "The Business Journals" series, are part of ACBJ's portfolio?

In addition to "The Business Journals" in various markets, ACBJ also publishes "Hemmings Motor News" and "Inside Lacrosse."

What is the significance of the "Pittsburgh Business Times" acquisition and reacquisition history?

The Pittsburgh Business Times was founded in 1981, acquired by ACBJ in 1986 from Business Journal Publications Corp., sold off in 1988, and then reacquired in 1996 with the purchase of CityMedia Inc.

How did ACBJ's strategy of national advertising packages fare in the late 1980s?

The strategy of establishing a network of newspapers selling national advertising packages fell short of its goals in the late 1980s, contributing to the company's financial difficulties, particularly after the 1987 stock market crash.

What is the stated purpose of the "Forty Under 40" award?

The "Forty Under 40" award aims to recognize and list the 40 most successful entrepreneurs under the age of 40 within each of the markets served by "The Business Journal."

What is the "Best Places to Work" award based on?

The "Best Places to Work" award is based on employee surveys that evaluate leadership, corporate culture, and communication within participating companies.

Which ACBJ publication was founded in 1980 and later acquired as part of the Scripps Howard merger?

The Phoenix Business Journal, founded in 1980, was acquired by ACBJ in 1986 as part of the merger with Scripps Howard Business Journals.

What is the origin of the "Pacific Business News" title?

"Pacific Business News," serving Honolulu, Hawaii, was started by entrepreneur George Mason and former "Honolulu Star-Bulletin" editor John Ramsey. Mason later sold the newspaper to ACBJ in 1983.

When did ACBJ launch a book publishing partnership?

American City Business Journals launched a book publishing partnership in 2020.

What is the corporate headquarters location for American City Business Journals?

The corporate headquarters for American City Business Journals is located in Charlotte, North Carolina.

What industry is American City Business Journals categorized under?

American City Business Journals is categorized under the Publishing industry.

Who is listed as the founder of American City Business Journals?

Mike Russell is listed as the founder of American City Business Journals.

What is the parent company of American City Business Journals?

The parent company of American City Business Journals is Advance Publications, which acquired it in 1995.

What is the official website for American City Business Journals?

The official website for American City Business Journals is acbj.com.

What types of media does ACBJ produce?

ACBJ produces magazines, newspapers, and mass media content.

Which ACBJ publication covers the Dallas-Fort Worth market?

The Dallas Business Journal covers the Dallas-Fort Worth market and was acquired by ACBJ in 1986 from the merger with Scripps Howard Business Journals.

What is the history of the "St. Louis Business Journal"?

The "St. Louis Business Journal" was established in 1980 with Dan Keough leading it. It was acquired by ACBJ in 1986 as part of the purchase of Business Journal Publications.

What is the "San Francisco Business Times" known for regarding its publications?

The "San Francisco Business Times" acquired the "East Bay Business Times" in 2008, merging it into its own publication.

What was the original name of the "Silicon Valley Business Journal"?

The "Silicon Valley Business Journal" was originally founded as the "San Jose Business Journal."

How has the "South Florida Business Journal" evolved?

Founded in 1980 as "Miami Business," the "South Florida Business Journal" changed its name in 1983 and was later acquired by ACBJ in 1986 as part of the Scripps Howard Business Journals merger.

What is the "Triad Business Journal" and when was it founded?

The "Triad Business Journal," covering Greensboro, North Carolina, was founded by ACBJ in 1998.

Which ACBJ publication was a finalist for a Pulitzer Prize in 2010?

The Puget Sound Business Journal, which covers Seattle, Washington, was a finalist for a Pulitzer Prize in 2010.

What are the "Other publications" listed under ACBJ besides the city-specific journals?

Other publications under ACBJ include "Hemmings Classic Car," "Hemmings Motor News," "Hemmings Muscle Machines," and "Inside Lacrosse."

What is the "Hemmings Classic Car" publication's history?

"Hemmings Classic Car" was launched in 1970 as "Special Interest Autos." It was acquired by ACBJ in April 2002 when ACBJ purchased Hemmings Motor News Publishing, and it was renamed "Hemmings Classic Car" in 2004.

What is the "Inside Lacrosse" publication's history with ACBJ?

"Inside Lacrosse" was launched in 1996 and subsequently acquired by ACBJ in 2007.

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Overview

Core Identity

American City Business Journals, Inc. (ACBJ) is a prominent American newspaper publisher headquartered in Charlotte, North Carolina. It operates as a subsidiary of the larger media conglomerate, Advance Publications.

Business Model

ACBJ generates revenue through a diversified model encompassing display and classified advertising in its weekly print publications, alongside robust online advertising streams on its digital platforms. A significant portion of its income is also derived from a subscription-based business model, providing consistent access to its business news content.

Digital Reach

The company's primary online presence, bizjournals.com, functions as an overarching portal for local business news across various U.S. cities. This platform hosts an extensive archive exceeding five million business news articles published since 1996. As of August 2021, it commanded a readership of over 3.6 million individuals weekly, underscoring its substantial digital footprint.

Historical Trajectory

Foundation and Early Growth

American City Business Journals, Inc. was established in 1982 by Mike K. Russell, commencing operations with the launch of the Kansas City Business Journal. Within three years, the company transitioned to public trading via an initial public offering, aiming to consolidate a network of business newspapers for national advertising packages. This expansion phase saw significant acquisitions, including publications from Business Journal Publications Corp. and a merger with Scripps Howard Business Journals in 1986.

Challenges and Restructuring

By 1987, ACBJ faced considerable financial strain, marked by substantial losses exacerbated by the 1987 stock market crash. This led to a period of divestiture in 1988, where several publications were sold. Following these restructuring efforts, Ray Shaw assumed the roles of Chairman and Chief Executive Officer in 1989. Under his leadership, the company relocated its headquarters to Charlotte, North Carolina, and significantly expanded its portfolio of publications.

Acquisition and Consolidation

A pivotal moment occurred in 1995 when ACBJ was acquired by Advance Publications for $258.8 million. The subsequent year saw the acquisition of CityMedia Inc., further consolidating its market presence. Throughout the early 2000s, ACBJ engaged in strategic partnerships, such as the one with Microsoft for bcentral.com in 2001, and expanded its niche offerings by acquiring publications like Inside Lacrosse in 2007. A book publishing partnership was launched in 2020.

Portfolio of Publications

City Business Journals

ACBJ's core offering comprises a network of 44 local business journals serving distinct metropolitan areas across the United States. These publications provide targeted business news, analysis, and data relevant to their respective regions. The naming convention typically follows the pattern of "[City Name] Business Journal," though variations exist, such as "Business First," "Times," "Chronicle," "Courier," and "News."

As of 2023, ACBJ publishes the following city business journals:

Title	City	Notes
Albany Business Review	Albany, New York	Founded in 1974. Previously known as Capital District Business Review and The Business Review.
Albuquerque Business First	Albuquerque, New Mexico	Formerly New Mexico Business Weekly until December 2012.
Atlanta Business Chronicle	Atlanta, Georgia	Acquired in 1986.
Austin Business Journal	Austin, Texas
Baltimore Business Journal	Baltimore, Maryland	Acquired in 1986.
Birmingham Business Journal	Birmingham, Alabama	Founded in 1983, acquired in 1999.
Boston Business Journal	Boston, Massachusetts	Founded in 1981. Acquired in 1996.
Buffalo Business First	Buffalo, New York
Charlotte Business Journal	Charlotte, North Carolina
Cincinnati Business Courier	Cincinnati, Ohio	Acquired in 1986.
Cleveland Business Journal	Cleveland, Ohio	Launched online-only in May 2020.
Columbus Business First	Columbus, Ohio
Dallas Business Journal	Dallas, Texas	Acquired in 1986.
Dayton Business Journal	Dayton, Ohio
Denver Business Journal	Denver, Colorado	Acquired by ACBJ in 1989.
Houston Business Journal	Houston, Texas	Acquired in 1986.
Jacksonville Business Journal	Jacksonville, Florida
Kansas City Business Journal	Kansas City, Missouri	The first publication of ACBJ, co-founded in August 1982.
Louisville Business First	Louisville, Kentucky	Founded in 1984.
Memphis Business Journal	Memphis, Tennessee	Founded in 1979.
Milwaukee Business Journal	Milwaukee, Wisconsin	Acquired in 1996.
Minneapolis/St. Paul Business Journal	Minneapolis, Minnesota	Acquired in 1996.
Nashville Business Journal	Nashville, Tennessee
Orlando Business Journal	Orlando, Florida	Founded in 1984.
Pacific Business News	Honolulu, Hawaii	Founded in 1983, sold to ACBJ.
Philadelphia Business Journal	Philadelphia, Pennsylvania	Founded in 1982, acquired in 1996.
Phoenix Business Journal	Phoenix, Arizona	Founded in 1980, acquired in 1986.
Pittsburgh Business Times	Pittsburgh, Pennsylvania	Founded in 1981, acquired in 1986, reacquired in 1996.
Portland Business Journal	Portland, Oregon
Puget Sound Business Journal	Seattle, Washington	Acquired in 1986. Finalist for a Pulitzer Prize in 2010.
Sacramento Business Journal	Sacramento, California	Acquired in 1996.
St. Louis Business Journal	St. Louis, Missouri	Established in 1980, acquired in 1986.
San Antonio Business Journal	San Antonio, Texas
San Francisco Business Times	San Francisco, California	Acquired in 1986. Merged with East Bay Business Times in 2008.
Silicon Valley Business Journal	San Jose, California	Founded as San Jose Business Journal.
South Florida Business Journal	Miami, Florida	Founded in 1980, acquired in 1986.
Tampa Bay Business Journal	Tampa, Florida	Founded in 1981.
Triad Business Journal	Greensboro, North Carolina	Founded by ACBJ in 1998.
Triangle Business Journal	Raleigh, North Carolina
Washington Business Journal	Washington, D.C.	Acquired in 1986.
Wichita Business Journal	Wichita, Kansas

Specialty Publications

Beyond its core city journals, ACBJ also publishes specialized titles catering to specific enthusiast and industry markets:

Hemmings Motor News: A long-standing publication focused on classic cars and automotive history.
Hemmings Classic Car: Launched in 1970 as Special Interest Autos, renamed and acquired by ACBJ in 2002.
Hemmings Muscle Machines: Introduced by ACBJ in 2003.
Inside Lacrosse: A publication dedicated to the sport of lacrosse, acquired by ACBJ in 2007.

Digital-First Ventures

ACBJ maintains a dynamic online presence, with several publications operating primarily or exclusively online. These digital platforms leverage the company's extensive archive and provide real-time business news coverage.

L.A. Business First
Chicago Business Journal
Cleveland Business Journal (Launched May 2020)
New York Business Journal
Providence Business First
The Business Journals (Main portal curating content across all city sites)

Annual Recognition Programs

Forty Under 40

Since 1992, ACBJ's various publications have recognized emerging business leaders through their "Forty Under 40" awards. This program identifies and celebrates 40 accomplished entrepreneurs and executives under the age of 40 within each local market, highlighting their professional achievements and contributions to their communities.

Best Places to Work

The "Best Places to Work" initiative identifies and ranks top employers in local markets based on employee feedback. These rankings are determined through confidential surveys assessing aspects such as leadership, corporate culture, communication, and management practices, providing valuable insights into workplace excellence.

Corporate Affiliation

Advance Publications

American City Business Journals, Inc. has been owned by Advance Publications since 1995. Advance Publications is a privately held American media company with a diverse portfolio that includes magazines, newspapers, digital media, and other ventures. This ownership structure provides ACBJ with significant resources and strategic alignment within a larger media ecosystem.

Official Presence

Corporate Website

The official corporate website for American City Business Journals is accessible at acbj.com. This site serves as the central hub for information about the company and its various divisions and publications.

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References

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The Business Chronicle

💡 Dive in with Flashcard Learning! 💡

Overview 🏢

📰 Core Identity

📈 Business Model

🌐 Digital Reach

Historical Trajectory 📜

🚀 Foundation and Early Growth

📉 Challenges and Restructuring

🤝 Acquisition and Consolidation

Portfolio of Publications 📚

🏙️ City Business Journals

🚗 Specialty Publications

💻 Digital-First Ventures

Annual Recognition Programs 🏆

⭐ Forty Under 40

🏢 Best Places to Work

Corporate Affiliation 🔗

🏢 Advance Publications

Official Presence 🌐

🔗 Corporate Website

Teacher's Corner 🧑‍🏫

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Disclaimer ⚠️

📜 Important Notice

Dive in with Flashcard Learning!

Overview

Core Identity

Business Model

Digital Reach

Historical Trajectory

Foundation and Early Growth

Challenges and Restructuring

Acquisition and Consolidation

Portfolio of Publications

City Business Journals

Specialty Publications

Digital-First Ventures

Annual Recognition Programs

Forty Under 40

Best Places to Work

Corporate Affiliation

Advance Publications

Official Presence

Corporate Website

Teacher's Corner

True or False?

Test Your Knowledge!

Gamer's Corner

Discover other topics to study!

References

Feedback & Support

Disclaimer

Important Notice