BILLBOARD REPORTS that the consortium was helmed by investor Boston Ventures and an internal BPI management group fronted by Holdsworth and Jerry Hobbs in a move that was seen as a non-disruptive way to keep BPI – which included Billboard, Musician and Amusement Business, among other titles – intact.
HOBBS, who had served as executive vp of BPI and Billboard’s publisher, became president/CEO of the new entity, while Holdsworth became publisher of Billboard and then publisher/editor-in-chief. BPI had purchased Musician in 1981, which brought Holdsworth into the company, according to Billboard.