Trade media association American Business Media Tuesday morning released the finalists for this year’s iteration of its annual Jesse H. Neal Awards. Of some 660 entries, 123 have made it to the final round, the group said.

Legal publisher ALM drew the most finalist selections with 18, followed by McGraw-Hill at 16 and Crain Communications with 11.

In the group with more than $7 million in gross advertising and circulation revenue, McGraw-Hill took one nomination and ALM two spots in the category of Best Single Issue of a magazine. Best Web site nominations went to The Progressive Farmer, McGraw-Hill and IEEE Media, while Hanley Wood, Farm Journal Media and IEEE Media were finalists in the Best Integrated Package category.

In the group with less than $3 million in gross advertising/circulation revenue, Scholastic, McGraw-Hill and Marketing & Technology Group were finalists in the Best Single Issue of a Magazine category. Best Integrated Package nods went to McGraw-Hill, SourceMedia and Meister Media Worldwide.

ABM will hand out this year’s awards, including the Grand Neal Award, at an awards luncheon scheduled for March 10 at the Mandarin Oriental in New York City.

Click here for the complete list of 2011 finalists.