Architectural Record has been sold…again. Back in September, it was reported that McGraw-Hill Financial’s construction media portfolio—which included the publication, along with its data and analytics services—had been purchased by the Silicon Valley–based private equity firm Symphony Technology Group for $320 million. Now, Dodge Data & Analytics, the company which formed after McGraw-Hill Construction was sold, and includes Architectural Record, Engineering News-Record, Snap, and Sweets News & Products, has been picked up by BNP Media based in Troy, Michigan.
While signs of economic recovery are beginning to show for architects, design publishers continue to struggle to adjust to the changing media landscape and the soft economy. The parent companies of The Architect’s Newspaper‘s two major competitors, Architectural Record‘s McGraw-Hill and Architect‘s Hanley Wood, both announced major restructurings this week. According to Folio, McGraw-Hill is folding New York Construction, Midwest Construction, and its other regional titles into Engineering News-Record and turning ENR into a regional publication while eliminating up to 2,000 jobs across the company. At Record, this also meant letting go of some senior editorial staff, AN learned yesterday. Meanwhile, Hanley Wood’s president, Peter Goldstone, has been let go and his position has been eliminated, Folio also reported.
UPDATE: A spokesperson for McGraw-Hill wrote to dispute that the company is eliminating 2,000 jobs. While she declined to give a number, she said that the 2,000 figure is, “completely inaccurate.” She also clarified that ENR will “continue to be a national publication, but now it also has regional supplements.”