William F. Reilly, founder of Summit Business Media, the parent company of National Underwriter, died Friday after a year-long battle with prostate cancer. He was 70.

Mr. Reilly enjoyed a long and fruitful career in business media. In one of the first private-equity backed ventures in media, backed by the Kohlberg Kravis Roberts firm, he guided Primedia's inception, launch and growth from zero to a $1.7 billion company in both consumer and business-to-business media over a 10-year period.

After leaving Primedia in 1999, he acquired the Cincinnati-based company F&W, subsequently acquired Krause, then sold this special interest consumer magazine and education company in 2005.

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