Architectural Record has been sold…again. Back in September, it was reported that McGraw-Hill Financial’s construction media portfolio—which included the publication, along with its data and analytics services—had been purchased by the Silicon Valley–based private equity firm Symphony Technology Group for $320 million. Now, Dodge Data & Analytics, the company which formed after McGraw-Hill Construction was sold, and includes Architectural Record, Engineering News-Record, Snap, and Sweets News & Products, has been picked up by BNP Media based in Troy, Michigan.
FOLIO: reported that the “deal effectively terminates Dodge Data & Analytics’ relationship to traditional media, with the company’s remaining holdings focused squarely on business intelligence for the construction and engineering communities.” The terms are not yet known, but the deal is expected to close at the end of the month. With the acquisition, the company reportedly plans to add staff to its Michigan offices “to support the acquisitions.”
“This transaction signals Dodge’s focus on our core business: providing information, intelligence, and data-driven insights to empower our customers in the construction industry,” said Mike Petrullo, CEO of Dodge Data & Analytics, in a statement. “ENR and Architectural Record, both published for over 100 years, have a long, storied history of journalistic excellence and leadership in the marketplace, and we wish them continued success under BNP’s stewardship.”
A source told AN that there have already been multiple layoffs due to the change.