Mid-Atlantic Media, LLC announced today that it has expanded its media holdings with the acquisition of the Philadelphia Jewish Exponent.
Philadelphia Jewish Exponent, a regional Jewish publication covering Philadelphia and its Pennsylvania suburbs and South Jersey, was sold by the Jewish Publishing Group, a subsidiary of the Jewish Federation of Greater Philadelphia. Terms of the deal were not released.
“Our steadfast commitment to engage, educate, entertain and connect Jews across the religious, political, demographic and geographic spectra of our community has never wavered,” said Michael Balaban, President and CEO of the Jewish Federation of Greater Philadelphia. “However, the ever-changing media landscape can make owning a local Jewish publication challenging to maintain. Under Mid-Atlantic Media, the Exponent will have proven experts in the field focusing on its growth, development and relevance in the marketplace. We expect under this ownership that the Exponent will remain an award-winning publication, better able to meet the needs of its readers including expanding its footprint in the digital media marketplace.”
Mid-Atlantic Media CEO and Publisher Craig Burke said that the acquisition of the Philadelphia Jewish Exponent fits in well with the media company’s strategic plans. “The Jewish Exponent has always been one of preeminent Jewish publications in the country. Seven years ago, we considered it an honor and privilege to help provide custom media services to Jewish Exponent. Now, the opportunity to acquire Jewish Exponent and bring it into our corporate media portfolio is a true thrill.
“Jewish publications build and strengthen Jewish community with their content, both in print and digitally. We look forward to providing valuable content to Jewish readers in the greater Philadelphia area.” Burke continued, “And helping our advertisers grow their business with Philadelphia Jewish Exponent.”
