Canadian Publishing Industry News
21 April 2014, RICHMOND HILL, ON
Kenilworth acquired by Forum Media Group
Munich-based Forum Media Group has acquired a controlling interest in B2B and consumer mag publisher Kenilworth, marking its entry into the North American publishing market.
Ellen Kral retains her role as Kenilworth's chief executive officer and the Ontario office now doubles as Forum's headquarters in North America. There will be "no restructuring whatsoever" at Kenilworth according to Kral, who is now also tasked with spearheading future mergers and acquisitions.
"The spirit of excellence that permeates through every single one of [Forum's] products is exactly the kind of culture and spirit of excellence we have aspired to all this time in Canada," Kral told Masthead. "It's a wonderful fit."
Forum Media Group was established in 1988 and has a presence in 16 countries with 26 independent companies. Kenilworth was founded 1987 and was purchased by Kral in 1999; its publications include Jewellery Business, the Construction Specifier, and Sign Media Canada. Forum approached Kenilworth about the deal in the summer of last year, said Kral.
"Kenilworth is an amazing addition to the Forum Group and we have plans to continue the growth and expansion of Forum in North America, both within Kenilworth's existing range of products and business fields, and into new sectors," stated Ronald Herkert, Forum founder and managing director, in a company release.
Ellen Kral retains her role as Kenilworth's chief executive officer and the Ontario office now doubles as Forum's headquarters in North America. There will be "no restructuring whatsoever" at Kenilworth according to Kral, who is now also tasked with spearheading future mergers and acquisitions.
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Rudy Kral, president, Kenilworth Media; Kerstin Kuffer, managing director, Forum Media Group; Ronald Herkert, founder and managing director, Forum Media Group; Ellen Kral, CEO, Kenilworth; Stefan Meichsner
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"The spirit of excellence that permeates through every single one of [Forum's] products is exactly the kind of culture and spirit of excellence we have aspired to all this time in Canada," Kral told Masthead. "It's a wonderful fit."
Forum Media Group was established in 1988 and has a presence in 16 countries with 26 independent companies. Kenilworth was founded 1987 and was purchased by Kral in 1999; its publications include Jewellery Business, the Construction Specifier, and Sign Media Canada. Forum approached Kenilworth about the deal in the summer of last year, said Kral.
"Kenilworth is an amazing addition to the Forum Group and we have plans to continue the growth and expansion of Forum in North America, both within Kenilworth's existing range of products and business fields, and into new sectors," stated Ronald Herkert, Forum founder and managing director, in a company release.
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Earth to Masthead.
D.B.?
There are rules in the Canadian tax legislation that are specific to advertising in �newspapers� that may restrict deductibility of advertising expenses where Canadian ownership of issued shares of the corporation (either directly or indirectly) are not met. These tax rules were amended in 2001 to exclude periodicals from this restriction (now only applies to newspaper advertising) and the tax legislation for periodical advertisements outlined above was introduced.