As much as we aren’t fans of the ALB approach to legal publishing ..advertising and events .. awards and advertising. Our congratulations have to go to them…
They must be the only organisation we know who managed to escape the clutches of Lexis at the beginning of the 21st century and within the decade are selling on to TR .
And amazingly it’s Tony Kinnear who’s gone and bought the business. Exactly the same dude who had a controlling hand in Key Media when they were based at Chatswood under the aegis of Lexis
We imagine they’ve made a pretty penny selling off their publication and business to TR.
Especially as they must be aware that their model; legal awards, events and news for firms about firms only has 5+ years to live. So great timing in terms of a sale.
Have TR purchased
The Brand Name ?
The Client List ?
The Awards ?
Or a combination of all 3
It’ll be interesting to see if they run the business on the same model or if they intend to develop it
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Here’s the press release. We’ll be watching closely to see what they do?
SINGAPORE, March 25, 2011 ? Thomson Reuters today announced that it has acquired Asian Legal Business, a leading provider of print and online legal news and information for legal professionals in China, North and South East Asia, Japan, Australia and the Middle East. Asian Legal Business has 30 employees with offices in Hong Kong, Singapore and Sydney and will be aligned with the Thomson Reuters portfolio of Asia-Pacific legal businesses. Terms were not disclosed.
Tony Kinnear, senior vice president of the Asia region for the legal businesses of Thomson Reuters, said Asian Legal Business is a powerful complement to the Thomson Reuters portfolio of products and services used by practitioners in the region. ?Our strategic focus is to provide legal practitioners with the tools to best support their practice and business needs, and our customers look to us for authoritative content and business intelligence, plus business development tools and services. At Thomson Reuters, we call this ?The Knowledge Effect?, and Asian Legal Business spans each of these areas: its editorial is well regarded for its insights and analysis of legal industry news, and it is widely viewed as an important channel for law firms looking to build their presence in the region,? he noted.?
Asian Legal Business was founded in 2002, and serves fast-growing Asian markets and is an important marketing vehicle for established and emerging law firms. The company publishes four regional monthly journals covering China, North Asia, Southeast Asia, Japan and Australasia, and produces legalbusinessonline.com, which provides breaking legal news, deals and analysis. It also produces the Annual Law Awards and In-House Counsel Summits, a series of events and seminars held in Beijing, Shanghai, Hong Kong, Tokyo, Singapore, Sydney and Auckland.
Asian Legal Business adds a critical dimension to the Thomson Reuters strategy to expand its legal market footprint in the Asia region. Asian Legal Business complements the Thomson Reuters strategy of developing regional legal news that can be leveraged across its global portfolio of online legal information services and publications.
?There are already more than one million legal practitioners in the Asia region, and Asian Legal Business is viewed as required reading for the region?s leading law firms, in-house counsel and C-suite executives,? noted Kinnear. ?We intend to build on Asian Legal Business? great legacy of innovation and excellence, supporting the growth of the profession in this important region. We are pleased that Asian Legal Business is now part of Thomson Reuters.?
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