Network Communications (NCI) completes the acquisition of Black's Guide / Recruits new CFO

ABRY Partners has announced the combination of Black's Guide, Inc., publisher of the nation's leading commercial real estate print directory, with NCI. This merger follows ABRY's initial acquisition of NCI in June of 2002. The combination of NCI and Black's Guide creates a dominant national real estate advertising and information provider across both the local residential real estate vertical, which is led by NCI, and the print local commercial real estate vertical, which is led by Black's Guide. The highly synergistic combination of the two companies creates significant operating efficiencies due to the companies' duplicative overhead and print production functions, and potential revenue synergies due to the companies' complementary client bases.

NCI also has recruited Mr. Gerard Parker as Chief Financial Officer of NCI. Mr. Parker brings a wealth of direct experience as the former CFO of Haas Publishing Company. The NCI management team intends to focus on increasing revenue from existing markets, launching additional markets, integrating NCI and Blacks, improving efficiency of operations to optimize operating leverage and acquiring additional related local media properties.

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