called e5 global media type subsidiary industry digital media trade publications predecessor nielsen business media headquarters new york city new york united states key people ross levinsohn ceo website prometheusgm.com prometheus global media is a new york city based b2b media company . the company was formed in december 2009 when nielsen company sold its entertainment and media division to a private equity backed group led by pluribus capital management and guggenheim partners . guggenheim acquired pluribus s stake in the company in january 2013 giving it full ownership under the division of guggenheim digital media . the company owns and operates a number of major entertainment industry trade publications and their associated digital properties including adweek backstage billboard film journal international and the hollywood reporter . on december 17 2015 it was announced that guggenheim would spin out its media properties to a group led by former executive todd boehly . contents 1 history 1.1 founding 1.2 re organization and acquisition 2 assets 3 see also 4 references 5 external links history edit founding edit on december 10 2009 the nielsen company announced that it would sell its business media division which included brands such as adweek billboard and the hollywood reporter to a new company known as e5 global media ; a joint venture between guggenheim partners and pluribus capital management a company led by james finkelstein matthew doull and george green . two nielsen properties editor & publisher and kirkus reviews were not included in the sale and were to be shut down . 1 editor & publisher would instead be sold to the duncan mcintosh company 2 and kirkus reviews would be sold to herbert simon . 3 the company s first ceo was richard d. beckman previously an executive at cond nast and fairchild publications 4 and former publisher of magazines gq and vogue . 5 beckman s career suffered a setback in 1999 following some inappropriate behavior resulting in injuries to vogue s west coast advertising director carol matthews while beckman was matthews publisher at cond nast . 5 beckman s first major move was a re launch of the hollywood reporter ; with the hiring of janice min formerly of us weekly as editorial director thr replaced its daily print publication with a weekly magazine and performed a significant redesign to its website with an increased focus on breaking scoops to compete against up and coming blogs focusing on industry news such as deadline.com and thewrap along with its then struggling rival variety . the changes had a significant impact on the publication s performance by 2013 ad sales were up more than 50 % while traffic to the magazine s website had grown by 800 % . 6 7 in october 2010 the company was renamed prometheus global media ; named after the greek mythological figure beckman stated in an internal memo that the new name would carry more weight and gravitas in the marketplace . 8 re organization and acquisition edit in late 2011 prometheus went through a number of cost cutting measures . in august 2011 backstage was sold to a group of investors led by john amato in a transaction funded by guggenheim and the following month prometheus laid off the staff responsible for the hollywood creative directory and announced it had sold the publication . 9 10 11 in january 2013 guggenheim partners acquired the stake in prometheus owned by pluribus capital giving it full ownership ; following the acquisition former yahoo executive ross levinsohn was named as ceo of the new guggenheim digital media division which would oversee prometheus and other digital assets for guggenheim companies such as dick clark productions . in april 2013 guggenheim re acquired backstage which had also acquired sonicbids a platform for allowing musicians to book gigs online and made its ceo john amato president of the billboard group a new group consisting of billboard backstage and sonicbids . 12 13 14 15 in a january 2014 restructuring levinsohn was shifted to a business development role and no longer directly manages the prometheus properties . additionally the company was split into two operating groups ; an entertainment group was formed by merging the hollywood reporter into the billboard group with janice min becoming co president and chief creative officer of the group alongside amato . the remaining properties consisting of adweek and film expo group are led by jeff wilbur . 13 16 on may 29 2014 prometheus announced it would acquire the publishing assets of mediabistro a network of websites focusing on various aspects of the mass media industry which includes the media job listing site mediabistro and its network of blogs such as agencyspy fishbowlny lost remote and tvnewser for 8 million . the acquisition did not include mediabistro s expo business which were retained under the name mecklermedia . 17 18 on january 13 2015 adweek and film expo group were merged into mediabistro to form a new prometheus subsidiary mediabistro holdings . at the same time its blogs were re launched under the new adweek blog network banner and all of mediabistro s social media oriented blogs were merged into socialtimes . 19 in march 2015 guggenheim partners reported that its president todd boehly was exploring the possibility of forming his own company . a representative stated that such a company would likely be harmonious with guggenheim especially since todd s role for some time has been strategic and transaction oriented rather than working in or managing any of our day to day businesses . 20 on december 17 2015 in response to losses across guggenheim partners the company announced that it would spin out its media properties to a group led by boehly including the hollywood reporter billboard media group mediabistro and dick clark productions all under their existing leadership . 21 22 23 assets edit film journal international hollywood reporter billboard media group backstage billboard the hollywood reporter mediabistro holdings adweek adweek blog network agencyspy fishbowldc fishbowlny galley cat lost remote socialtimes prnewser tvnewser tvspy clio awards film expo group brands of the world ads of the world stocklogos graphics.com mediabistro.com see also edit penske media corporation references edit adweek group among titles sold to e5 global media holdings . ad age . retrieved 18 june 2014 . milbourn mary ann 2010 01 14 . oc boating publisher buys bible of newspaper industry . oc register . retrieved 2010 10 08 . rich motoko february 10 2010 . kirkus gets a new owner from the n.b.a. . the new york times . retrieved march 22 2012 . richard beckman ceo prometheus media media business . november 5 2010 . btobonline.com . crain communications . a b kuczynski alex september 22 1999 . conde nast pays woman injured by executive . the new york times . barnes brooks . from has been to life of the party . new york times . retrieved 11 october 2013 . barnes brooks . hollywood reporter to become a weekly magazine . new york times . retrieved 11 october 2013 . what s in a name . folio . retrieved 18 june 2014 . update prometheus selling back stage ; the hollywood reporter s parent company dropping assets like flies now . deadline . retrieved 30 may 2014 . prometheus global media investor group strike alliance for back stage . the hollywood reporter . retrieved 30 may 2014 . the hollywood reporter s parent company continues to cost cut prometheus pulled plug on hollywood creative directory ; adweek also in trouble and in turmoil . deadline . retrieved 30 may 2014 . guggenheim digital media announces formation of billboard group . billboard.biz . retrieved 29 may 2014 . a b in guggenheim shakeup ross levinsohn no longer overseeing thr or billboard . variety . retrieved 29 may 2014 . prometheus bound . new york post . retrieved 29 may 2014 . guggenheim digital media buys remaining stake in backstage sonic bids . adweek . retrieved 29 may 2014 . janice min to head billboard thr as co president of entertainment group for guggenheim . billboard . retrieved 29 may 2014 . adweek parent prometheus buys mediabistro editorial assets . adweek . retrieved 29 may 2014 . prometheus global media to acquire mediabistro . fishbowlny . retrieved 29 may 2014 . 9 popular sites become core of new adweek blog network . adweek . retrieved 16 january 2015 . guggenheim partners says president todd boehly is exploring forming his own company . variety . retrieved 4 january 2016 . guggenheim prepares to sell hollywood reporter dick clark productions to exec . deadline.com . retrieved 18 december 2015 . guggenheim media spins off money losing hollywood reporter billboard to company president todd boehly exclusive . the wrap . retrieved 18 december 2015 . hollywood reporter parent company spins off media assets to executive . the hollywood reporter . retrieved 3 january 2016 . external links edit official website v t e prometheus global media backstage billboard the hollywood reporter adweek film journal international clio awards retrieved from https en.wikipedia.org w index.php title prometheus global media & oldid 737653355 categories publishing companies established in 2009magazine publishing companies of the united statescompanies based in new york city2009 establishments in new york2015 disestablishments in new york navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages danskdeutsch espa olfran ais portugu ssimple englishsvenskat rk eti ng vi t edit links this page was last modified on 4 september 2016 at 06 44 . text is available under the creative commons attribution sharealike license ; 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