UBM has sold Light Reading, a digital and events brand covering the telecom industry, back to Stephen Saunders, one of its original founders. Terms of the deal were not released, but UBM will retain a "significant minority stake" in the operation.
Saunders sold Light Reading to UBM in 2005 for about $33 million, going on to start up Internet Evolution, an Internet tech news site.
He was later re-hired by UBM in 2010 to start up its DeusM marketing services operation, which is structured around a community-publishing system. That system later became the foundation for all of UBM Tech's online brands, including EE Times and Information Week.
Saunders says he plans to double the size of Light Reading's database and hire a dozen new staff in its editorial and analytics groups.
Among Light Reading’s event portfolio are:
• Light Reading’s Big Telecom Event, scheduled June 17-18 in Chicago, and
• Mobile Network Security Strategies, scheduled May 21 in London.
Light Reading will hold a “mini” conference during Mobile World Congress later this month in Barcelona, Spain, entitled “Creating Trust in the Mobile Network.”