HousingWire to Acquire REO Insider, Enhance Mortgage Media Leadership
Acquisition by leading U.S. financial news platform will strengthen media company's brand in multi-trillion dollar mortgage market, expand market coverage and allows for future growth in one of the hottest sectors in real estate
DALLAS, Sept. 17 /PRNewswire/ -- HousingWire, the nation's largest publication for U.S. mortgage investment, origination and servicing executives, announced Friday that it has entered into an agreement to acquire REO Insider, the leading trade journal focused on distressed real estate transactions.
Through the acquisition, HousingWire will add in-depth REO market reporting to its existing coverage areas spanning loan originations, secondary market trading of whole loans and mortgage-backed securities, and loan servicing. REO Insider will cease to operate as a separate publication.
"The distressed real estate market, whether via REO or short sales, has never been more relevant to the overall economic picture than it is right now," said HousingWire CEO Paul Jackson. "This acquisition will solidify HousingWire's position as the only end-to-end news and information source that crosses the entire housing finance spectrum."
HousingWire currently reaches more than 3 million readers each year though its digital and print content distribution networks, making it the largest source of housing finance news in the United States. Per the agreement, HousingWire will assume ongoing management of various conferences and research products tied to REO Insider, as well as other assets.
REO Insider organized and hosted REO Expo 2010 in Dallas this past June, bringing more than 1,500 industry professionals together. The company also launched the Pinnacle Awards program, the REO industry's first-ever peer-selected awards program, based upon a research product developed by the publication.
"We're very much looking forward to hosting REO Expo in 2011, and will continue to build upon the success of the Pinnacle Awards to expand an offering of research products in the future," said Richard Bitner, HousingWire president. "With the outlook for U.S. housing remaining highly volatile, we expect that the HousingWire media platform will be positioned through this acquisition to better meet the demands of a changing industry."
The transaction is expected to close by October 1, 2010, with the newly-expanded HousingWire Magazine and HousingWire website debuting in November.
HousingWire is the nation's largest source for news, commentary and analysis covering U.S. housing finance. HousingWire.com delivers breaking news and opinions on U.S. housing and mortgage finance, while a companion monthly print magazine provides in-depth context and insight spanning the people, issues and data that matter in mortgage finance and real estate. HousingWire is part of LTV Publishing, a division of The LTV Group, a Dallas-based advertising and creative services company.
About REO Insider
REO Insider is a leading source of information for asset managers, real estate agents and brokers conducting business in the corporate-owned real estate marketplace. Delivering time-sensitive news and industry information that is informational, educational and engaging, the publication provides front-line REO industry specialists with the necessary tools vital for success. REO Insider is part of LTV Publishing, a division of The LTV Group, a Dallas-based advertising and creative services company.
Sally Powell Schall
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