Arnold Bloch Leibler acted for the shareholders of Australian Independent Business Media, publisher of prominent digital publications Business Spectator and Eureka Report, in the sale of AIBM to a subsidiary of News Limited (News).
The matter was conducted by Arnold Bloch Leibler partner, Jeremy Leibler, together with lawyer, Stephanie Gold.
AIBM’s business also includes digital publications focusing on emerging areas of interest, such as technology, productivity and climate.
News announced the acquisition today as part of a broader restructuring programme, which included significant cost reductions and signalled the media giant’s intention to transition its business model from print to digital services. The transaction remains subject to a limited number of conditions and is expected to be completed in the coming weeks.
Jeremy Leibler said: “The timing of the sale was not incidental and it likely reflects the future of on-line news in this country.”
Business Spectator is a real-time business news and commentary website targeted at consumers in business, finance, government and the professions and is funded by advertising revenue. Its contributors and shareholders include Australian journalists Alan Kohler, Robert Gottliebsen, Stephen Bartholomeusz, Karen Maley and James Kirby.