Prime Creative Media acquires seven B2B titles from Momentum Media

Momentum Media has sold its B2B wealth management titles and events to Prime Creative Media.

The transaction involves the publications Money Management, Investor Daily, IFA, SMSF Adviser, Fintech Business, Adviser Innovation and Super Review, as well as their associated awards, conferences and events franchises.

Prime Creative Media’s chairman John Murphy told Mumbrella that 16 staff members across sales, events and editorial would make the transition and the company “will be looking to retain all the talent well into the future”.

Momentum Media was established in 2005 as a communications and media relations business, focused on the mortgage and finance sectors. From there, it created Sterling Publishing to launch its media assets. Sterling Publishing has since adopted the parent company name of Momentum Media, and now boasts a suite of publishing brands including flagship title The Adviser, real estate trade publication Real Estate Business, and new verticals such as Space Connect. It also owns a raft of acquired titles including Lawyers Weekly, Australian Aviation and Defence Connect.

Momentum Media said after the sale it would be focusing on other sectors where it had identified opportunities.

Prime Creative Media, meanwhile, has titles across agriculture, automotive, education, food and hospitality, health and medical, infrastructure and resources, manufacturing, transport and logistics, and now wealth management.

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In an announcement, Murphy said the acquisition was a natural extension of the company’s growth strategy.

“These are prime assets in every sense – strong brands, loyal audiences and talented teams with deep expertise in the wealth sector,” he said.

“We see significant opportunity to invest in and expand their reach and to further develop the event platforms that have become essential meeting places for the industry.”

He also told Mumbrella it would be a cultural fit, which would benefit both readers and clients.

“We want to maintain the high level of editorial excellence for our readers and also the highest level of service to our clients. We would be looking to grow the business in the next six to 12 months. An acquisition like this brings some great IP that we will also be able to learn from and implement these learnings into our current offering,” he said.

The wealth management titles which have changed hands (Prime Creative Media)

“So in summary the acquisition has given us some great brands, great people and excellent systems and processes. There is a real cultural fit with the team. We are very fortunate to have had this opportunity. It allows us to get into a new industry sector with leading products that have an established track record.”

Alex Whitlock, a director of Momentum Media, said Momentum Media had nurtured the brands for many years, and the company was proud of the role it had played in supporting Australia’s wealth management industry.

“As we focus our resources on other sectors where we see major opportunities, it was vital to find the right home for these assets,” he said.

“Prime Creative Media has the scale, vision and commitment to take them forward, and I have no doubt they will flourish as part of the Prime portfolio.”

The release added: “For Momentum Media, the divestment provides the opportunity to re-capitalise and re-deploy resources into adjacent markets and its complementing businesses, while ensuring the wealth management brands continue to grow under new ownership.”