Sources Say Advanstar for Sale
Sale could fetch more than $900M.
Reuters is reporting that Advanstar Communications is "exploring a sale that could fetch more than $900 million." The news agency cites only "people familiar with the matter."
Advanstar Communications officials have not yet returned calls and messages left by Expo.
Advanstar produces more than 50 trade shows and 100 other conferences and events. Its largest shows are the semiannual MAGIC Market Week and Licensing International Expo.
In conjunction with MAGIC, the company has recently inaugurated the Shop the Floor initiative, an e-commerce platform to serve the same fashion industry clients as the trade show does.
If reports of an impending sale are accurate, it would follow by nearly a year the sale of Nielsen Expositions to Onex, a private equity firm, for $950 million. The former Nielsen is now called Emerald Expositions.
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