Venture Firm Buys CU Times

October 03, 2005, 1:00 a.m. EDT 1 Min Read

WEST PALM BEACH, Fla. - (10/03/05) -- Wicks Business Information, aventure capital firm based in Fairfield, Ct., announced Friday ithas acquired The Credit Union Times. The purchase price wasreportedly $10 million. WBI is a unit of Wicks Group of Companies,and publishes several other newsletters, including Treasury &Risk Management magazine and Corporate Legal Times. Credit UnionTimes was founded in 1990 by Mike Welch, CU Journal co-publisherFrank Diekmann, and Tim O'Hara, now chief of advertising for TheCredit Union Journal. Welch will remain on as a consultant duringthe transition, while Paul Gentile will become the publication'snew editor-in-chief.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Federal Reserve

Fed points to market froth as leading stability risk

In its latest financial stability report, the Federal Reserve found that asset valuations continue to be elevated and leverage levels remain high, especially among nonbanks like hedge funds and insurance firms.

By Maria Volkova

November 7
Stablecoin

Fed's Miran: Stablecoin uptake bolsters case for rate cuts

Federal Reserve Board Gov. Stephen Miran said the growth of stablecoins and cryptocurrencies will likely impact monetary policy and could lead to lower interest rates.

By Kate Berry

November 7
Commercial banking

Santander launches portal for U.S. businesses going global

The Spanish bank says it can connect small and medium-size U.S. businesses with local market experts on its newly launched digital platform Navigator Global.

By Melinda Huspen

November 7
PNC Financial Services Group

PNC boosts branch investment to $2B, plays down more M&A

The Pittsburgh-based bank said Friday that it will focus on building 300 branches in high-growth markets by 2030. It also minimized the prospects for another acquisition on the heels of its recent deal for Colorado-based FirstBank.

By Catherine Leffert

November 7
Buy now pay later

Affirm 'firing on all cylinders' with earnings beat

Consumers' and merchants' penchant for 0% loans are boosting the buy now/pay later lender in its first fiscal quarter ended Sept. 30, as gross merchandise volume hit a record.

By Joey Pizzolato

November 7
Industry News

Activist investor drops recent proxy battle threats

HoldCo Asset Management drops its pursuit of proxy battles with Columbia Banking System and First Interstate; Cape Cod's Mutual Bancorp prepares to acquire Bluestone Bank; Servbank HoldCo announces plans to acquire IF Bancorp; and more in this week's banking news roundup.

By Editorial Staff

November 7