Grimes, McGovern & Associates represents Financial Advisory firm in sale of Subscription Information Business to Strategic Buyer
Expands Specialized Media Portfolio into Energy Sector
NEW YORK (July 14, 2021) – Royal Media (Royal), a leading specialized information company, is pleased to announce that it has acquired The Foster Report (Foster) and its associated assets from Concentric Energy Publications, a Concentric Energy Advisors company.
Foster provides news coverage and analysis on the regulations and policies affecting the oil, electricity, and natural gas markets, and boasts subscribers from some of the nation’s largest energy companies, law firms and government agencies. Foster’s coverage ranges from breaking news from the oil and natural gas pipeline industry to existing or newly filed cases at the Federal Energy Regulatory Commission (FERC).
The Foster Report will be the first energy brand in the Royal Media portfolio, creating new opportunities for growth and expansion.
“All of us at Royal are thrilled to welcome The Foster Report, particularly as the industry pursues exciting opportunities in clean energy,” said JJ Hornblass, Chief Executive Officer of Royal Media. “We are excited to have the opportunity to work with another well-respected and established brand and apply our unique brand of expertise and creativity to it.”
The Foster Report was launched on March 23, 1956, in Washington, D.C., by a group of noted economists. It was originally known as The Foster Associates Report and then as The Foster Natural Gas Report. Over the years it has become a well-respected media source beyond the field of economics, and today it is a key resource in the energy compliance sector.
The U.S. total energy consumption is approximately $1.3 trillion, or about 6.2% of GDP. Oil and gas production, a key indicator of the industry’s wellbeing and Foster’s concentration, has surged in recent years in response to advanced drilling and production techniques.
Royal plans to build on the current Foster Report service to provide even better coverage and information services and products to the market. Royal also expects to continue to enhance Foster’s coverage of clean energy developments, renewable resources, environmental issues and decarbonization plans.
“We are pleased to have found a steward that will continue Foster’s storied history of high-quality and in-depth reporting,” said Jim Coyne, Senior Vice President of Concentric Energy Advisors. “Royal Media is a leading business information and media company dedicated to providing engaging and insightful content. I am confident Foster subscribers will benefit from this new business alignment,” continued Mr. Coyne.
The seller was represented by Grimes, McGovern & Associates.
The Foster Report can be found at www.fosterreport.com. The site includes a complete archive of content since the newsletter’s launch.
ABOUT ROYAL MEDIA
Royal Media, established in 1995, is a leading business information and media company serving professionals in the air freight, financial services, and vehicle finance sectors. Our diverse mix of brands has in common a single mission: to provide important insights to businesses. We achieve this with exceptional news websites, conferences, digital magazines, newsletters and podcasts. We also offer a range of custom content development, research, and consulting. Learn more at www.RoyalMedia.com.
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