Swiss Firm Buys L.A.-Based Globe Media

Swiss print media advertising group Publicitas Holding said it bought Los Angeles-based Globe Media Inc., tripling its advertising volume in North America to $57 million. The price was not disclosed. Publicitas said Globe Media, a privately held company with offices in eight U.S. cities plus Mexico City, was a promotion and sales agent specializing in attracting national and international advertising for newspapers and periodicals. It said Globe Media was an agent for publications, including Travel & Leisure, Food & Wine, Euromoney, Golf and Sunset magazines, among others. Globe Media has advertising volume of about $40 million.