Light Reading Co-Founder Stephen Saunders Gets Company Back from UBM
More than eight years after selling Light Reading in New York to UBM, co-founder Stephen Saunders has repurchased his company.
Light Reading announced the deal Monday; terms were not disclosed. The company, founded in 2000, provides research and analysis on the telecommunications industry, publishing content across a network of websites. Saunders has said Light Reading was sold in 2005 for $33 million to London-based media company UBM. Now he is retaking ownership with UBM maintaining a minority stake.
Some of Saunders’ stated future plans for Light Reading include bulking up the staff and changing up its media pricing. He most recently was managing director with UBM’s DeusM marketing services company.
This is the latest company to be shed by UBM as it reworks its strategy. Last April, the media company sold off its data services businesses to Electra Partners. Also last year, UBM sold its North American IT channel business to a management-led group and sold real estate industry print magazine Property Week to Metropolis International.