Investcorp has put New York-based publisher SourceMedia up for sale, according to multiple sources.

SourceMedia, which provides news, analysis and research in the b-to-b space through publications including American Banker and The Bond Buyer, has an EBITDA of around $12 million, one source with knowledge of the private-equity market says, although it is believed to have been in decline for at least the last six months. A report from suggests the EBITDA could be as high as the mid-teens.

All signs indicate the company could be sold for five to six times that amount, or for at least $60 million.

The auction is expected to garner interest from financial buyers only, after SourceMedia was shopped around to strategic firms last year, the source says.

Investcorp, a global investment firm with offices in Bahrain, London and New York, acquired Thomson Media in 2004 for $350 million, changing its name to SourceMedia.

Publishing group Reed Elsevier bought the online-data portion of that original deal, Accuity Holdings, for $530.1 million a year ago. That deal gave Investcorp a nearly 2-to-1 return on its original investment, according to the WSJ.

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