Thomson Financial Services unit, Faulkner & Gray, announced Thursday that it has acquired the assets of CU Journal Inc., publisher of the weekly Credit Union Journal. Terms of the agreement were not disclosed.
“It has been a long-standing goal of ours to enter the credit union publishing market,” said Jack Love, President of Faulkner & Gray. “With our coverage of most sectors of financial services, the vibrant credit union market is an important one for us to enter. We have had a number of credit union subscribers to our other financial services publications and attendees to our conferences through the years, and recognize the vital role they play in financial services delivery. With the Credit Union Journal we now have a top-notch publication geared exclusively to the needs and concerns of this market, and it will be the cornerstone of what will be a family of products targeted specifically for the needs of credit union executives.”
Credit Union Journal was founded in early 1997 by Frank J. Diekmann, Editor and Co-Publisher, and Timothy J. O’Hara, Advertising Director and Co-Publisher, and has quickly become the leading news authority on the credit union industry. “I am pleased to have the opportunity to enter the credit union market with the services of Frank Diekmann and Tim O’Hara, who will remain with the publication and will spearhead Faulkner & Gray’s credit union efforts,” said Andrew L. Goodenough, Executive Vice President and Group Publisher of Faulkner & Gray. “Combined, these executives have nearly 20 years’ experience in the credit union publishing field, a tremendous asset to us as we build our credit union business.”
Credit Union Journal will continue to operate out of its West Palm Beach offices, located at 224 Datura Street, Suite 709, West Palm Beach, Florida, 33401. Additional personnel will be hired in West Palm Beach to round out the publication’s editorial and advertising staff.
“We are delighted to be joining the Faulkner & Gray team,” said Frank Diekmann. “The company is highly regarded in the financial services industry for its commitment to the highest journalistic standards. We look forward to bringing the resources of Thomson to bear on our enterprise.”
In a related move, Faulkner & Gray also acquired the publishing assets of Credit Union News, the nation’s oldest credit union newspaper, founded in 1980, from BKB Publications Inc. Credit Unions News’s subscribers will receive Credit Union Journal effective with the January 28 issue.
Faulkner & Gray is publisher of 18 specialty business magazines and newspapers in a wide array of financial service industry segments, including accounting, banking, credit collections, credit cards, mortgage banking, managed care and insurance. Its titles include National Mortgage News, Credit Card Management, US Banker, Bank Technology News, Financial Service Online and dozens of related, newsletters, daily fax news bulletins, statistical directories, sourcebooks and websites. The company is also the largest independent provider of conference events in financial services, and sponsors Credit Card Forum, Home Banking Forum, Mortgage Technology Conference and Banking Call Center Conference, among others.
Faulkner & Gray is a division of Thomson Financial Services, a leading provider of quality financial information, research, analysis, and software products to the global investment and corporate communities. Part of The Thomson Corporation (TTC), TFS employs more than 5,500 people in nearly 40 offices around the world.
The principal activity of TTC is specialized information and publishing worldwide. In addition, TTC has important interests in newspaper publishing in North America and in leisure travel in the United Kingdom and Sweden. TTC had sales of US$7.7 billion in 1996 and has some 50,000 staff members. TTC’s common shares are traded on the Toronto, Montreal and London stock exchanges. For more information, visit TTC’s Internet address at [www.thomcorp.com]