William F. Reilly, founder of Summit Business Media–the parent company of National Underwriter–died on Oct. 17 after a year-long battle with prostate cancer. He was 70 years old.

Mr. Reilly was praised by Summit officials as a pioneer in using private equity capital to finance mergers and acquisitions in magazine publishing. Indeed, in one of the first private-equity-backed ventures in media, in conjunction with Kohlberg Kravis Roberts, he guided Primedia’s launch and growth to a $1.7 billion company in both consumer and business-to-business media over a 10-year period.

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