| American City Business Journals, Inc. | |
| Type: | Subsidiary |
| Industry: | Publishing |
| Founder: | Mike Russell |
| Location: | Charlotte, North Carolina, U.S. |
| Area Served: | United States |
| Key People: | Whitney Shaw (chairman and CEO) |
| Products: | Magazines newspapers mass media |
| Num Employees: | 1,400 (2021) |
| Parent: | Advance Publications (1995–present) |
American City Business Journals, Inc. (ACBJ) is an American newspaper publisher based in Charlotte, North Carolina. ACBJ publishes The Business Journals, which contains local business news for 44 markets in the United States with each market's edition named for that market, and also publishes Hemmings Motor News and Inside Lacrosse. The company is owned by Advance Publications receives revenue from display advertising and classified advertising in its weekly newspaper and online advertising on its website and from a subscription business model.
The bizjournals.com website, using the overarching online title The Business Journal, contains local business news from various cities in the United States, along with an archive that contains more than 5 million business news articles published since 1996. it receives over 3.6 million readers each week.[1]
American City Business Journals, Inc. was founded in 1982 by Mike K. Russell with the launch of the Kansas City Business Journal.[2] Three years later the business became a public company via an initial public offering and was traded as an over the counter stock. Starting 1985, ACBJ set out to acquire as many as fifty business newspapers across the United States. The goal was to establish a network of newspapers selling national advertising packages.[3]
In 1986, ABJC acquired all the publications owned by Mark Vittert and his company, Business Journal Publications Corp, for $40 million. The sale included business journals in Cincinnati, Baltimore, Pittsburgh, Philadelphia and St. Louis. Later that year American City merged with Scripps Howard Business Journals. At the time the division of Scripps-Howard Newspapers operated publications in 10 cities: Los Angeles, Seattle, San Diego, San Francisco, Dallas-Fort Worth, Houston, Phoenix, Atlanta, Washington, D.C and Miami/Fort Lauderdale.[4]
After expanding to 35 weeklies, ABJC faced mounting debts and losses reaching $13.5 million in the first nine months of 1987. This resulted from sales of national advertising packages falling short of goals amid the 1987 stock market crash. The company began divesting in 1988. ACBJ sold eight publications to various unnamed buyers, including five business newspapers in Westchester, Rochester, Richmond, Hartford and Southern Connecticut; St. Louis Magazine and partial-ownership of two legal papers: St. Louis Daily Record and St. Louis Countian.[5] Two weeks later ACBJ sold another six of its business newspapers in Philadelphia, Pittsburgh, Milwaukee, Indianapolis and San Jose and Sacramento to Metro Collegiate Publications for $46.3 million.[6] Then Russell sold his controlling stake in the company.[7]
In 1989, Shaw Publishing, Inc., owned by Ray Shaw and The Oklahoma Publish Co., purchased a million shares of common stock in ACBJ for $22.75 million. Shaw was then elected as the company's chairman and chief executive officer. Previously he retired earlier in the year from working as president of Dow Jones & Company.[8] Shaw served as ABJC's chairman for two decades. Under his leadership, the company moved its headquarters from Kansas City, Missouri, to Charlotte, North Carolina, and greatly increased the number of its publications.[9] In 1995, ACBJ was acquired by Advance Publications for million (equivalent to $million in).[10] A year later ACBJ acquired CityMedia Inc., which published six business journals in Boston, Philadelphia, Pittsburgh, Milwaukee, Minneapolis and Sacramento.[11]
In 2001, the company partnered with Microsoft to provide content for bcentral.com.[12]
In 2007, the company acquired Inside Lacrosse.[13]
In 2012, sister company Condé Nast redirected Portfolio.com to the startups page of ACBJ.[14]
In 2020, the company launched a book publishing partnership.[15] [16] [17]
The publication publishes the following annual awards for each city:
, American City Business Journals (ACBJ) publishes print copies of 44 different newspapers, addressing business news in 44 different cities, generally under the names City or Region name + Business + Journal (33 cities) or First (5) or Times (2) or Chronicle (1) or Courier (1) or News (1) or Review (1).
| Albany Business Review | Albany, New York | Founded in 1974 as Capital District Business Review. Also previously known as Capital District Business Review and The Business Review. | |
| Albuquerque Business First | Albuquerque, New Mexico | Formerly known as New Mexico Business Weekly until the name was changed in December 2012.[22] | |
| Atlanta Business Chronicle | Atlanta, Georgia | Acquired in 1986 from merger with Scripps Howard Business Journals.[23] | |
| Austin Business Journal | Austin, Texas | ||
| Baltimore Business Journal | Baltimore, Maryland | Acquired in 1986 from Business Journal Publications Corp. | |
| Birmingham Business Journal | Birmingham, Alabama | Founded in 1983 by Michael C. Randle and Tina Verciglio-Savas. Acquired in 1999.[24] | |
| Boston Business Journal | Boston, Massachessets | Founded by Robert Bergenheim and launched on March 2, 1981. The newspaper was originally named "P&L The Boston Business Journal" ("P&L" stood for profit and loss). However, "P&L" was later dropped from the name.[25] Acquired in 1996 with purchase of CityMedia Inc. | |
| Buffalo Business First | Buffalo, New York | ||
| Charlotte Business Journal | Charlotte, North Carolina | ||
| Cincinnati Business Courier | Cincinnati, Ohio | Acquired in 1986 from Business Journal Publications Corp. | |
| Columbus Business First | Columbus, Ohio | ||
| Dallas Business Journal | Dallas, Texas | Acquired in 1986 from merger with Scripps Howard Business Journals. | |
| Dayton Business Journal | Dayton, Ohio | ||
| Denver Business Journal | Denver, Colorado | Acquired by ACBJ in 1989 | |
| Houston Business Journal | Houston, Texas | Acquired in 1986 from merger with Scripps Howard Business Journals. | |
| Jacksonville Business Journal | Jacksonville, Florida | ||
| Kansas City Business Journal | Kansas City, Missouri | The first publication of the eventual ACBJ, co-founded by Michael K. Russell and William Worley in August 1982.[26] | |
| Louisville Business First | Louisville, Kentucky | Founded on August 13, 1984, by publisher Mike Kallay.[27] | |
| Memphis Business Journal | Memphis, Tennessee | Founded by Ward Archer as Mid-South Business in 1979.[28] | |
| Milwaukee Business Journal | Milwaukee, Wisconsin | Acquired in 1996 from CityMedia Inc. | |
| Minneapolis / St. Paul Business Journal | Minneapolis, Minnesota | Acquired in 1996 from CityMedia Inc. | |
| Nashville Business Journal | Nashville, Tennessee | ||
| Orlando Business Journal | Orlando, Florida | Founded in 1984.[29] | |
| Pacific Business News | Honolulu, Hawaii | Started by entrepreneur George Mason and former Honolulu Star-Bulletin editor John Ramsey.[30] In 1983, Mason sold the newspaper to ACBJ. | |
| Philadelphia Business Journal | Philadelphia, Pennsylvania | Founded in 1982, acquired in 1996 with purchase of CityMedia Inc. | |
| Phoenix Business Journal | Phoenix, Arizona | Founded in 1980. Acquired in 1986 from merger with Scripps Howard Business Journals.[31] | |
| Pittsburgh Business Times | Pittsburgh, Pennsylvania | Founded in 1981,[32] acquired in 1986 from Business Journal Publications Corp. Sold in 1988.[33] Reacquired in 1996 with purchase of CityMedia Inc. | |
| Portland Business Journal | Portland, Oregon | ||
| Puget Sound Business Journal | Seattle, Washington | Acquired in 1986 from merger with Scripps Howard Business Journals. In 2010, the newspaper was a finalist for a Pulitzer Prize.[34] | |
| Sacramento Business Journal | Sacramento, California | Acquired in 1996 with purchase of CityMedia Inc. | |
| St. Louis Business Journal | St. Louis, Missouri | Established in 1980 with Dan Keough at the helm; acquired in 1986 with purchase of Business Journal Publications by ACBJ. | |
| San Antonio Business Journal | San Antonio, Texas | ||
| San Francisco Business Times | San Francisco, California | Acquired in 1986 with purchase of Scripps Howard Business Journals. In 2008, East Bay Business Times was merged into the San Francisco Business Times.[35] | |
| Silicon Valley Business Journal | San Jose, California | Founded as San Jose Business Journal | |
| South Florida Business Journal | Miami, Florida | Founded in 1980 as Miami Business, it changed its name in 1983.[36] Acquired in 1986 from merger with Scripps Howard Business Journals. | |
| Tampa Bay Business Journal | Tampa, Florida | Founded as Tampa Bay Business in 1981, renamed for a period starting in late 1990s as The Business Journal Serving Tampa Bay. | |
| Triad Business Journal | Greensboro, North Carolina | Founded by ACBJ in 1998.[37] | |
| Triangle Business Journal | Raleigh, North Carolina | ||
| Washington Business Journal | Washington, D.C. | Acquired in 1986 from merger with Scripps Howard Business Journals. | |
| Wichita Business Journal | Wichita, Kansas |