February 2008

Gemstar-TV Guide

BUYER: MacrovisionSELLER: Gemstar-TV GuidePRICE: $2.8 billion (cash and stock)DATE: December 7TAKEAWAY: Gemstar’s six month search for a buyer ends with a company that admittedly knows little about publishing magazines, leading to more speculation that TV Guide’s print version will eventually...


BUYER: Incisive MediaSELLER: Wasserstein & Co.PRICE: $630 millionDATE: July 2007

Time4 Media

BUYER: Bonnier CorporationSELLER: Time Inc.PRICE: $225 millionDATE: Closed March 2007TAKEAWAY: The deal signaled a significant, if seemingly rare, victory for a strategic buyer and created a 40-title consumer-enthusiast powerhouse with more than $350 million in revenue.


BUYER: Veronis Suhler Stevenson, with Citigroup Private Equity and New York Life Capital PartnersSELLER: DLJ Merchant Banking PartnersPRICE: $1.14 billionDATE: March 2007

Interactive Deals

Last year may be seen as the year traditional publishers began laying the groundwork for a more aggressive approach to e-media M&A.

Ziff Davis Enterprise

BUYER: Insight Venture PartnersSELLER: Ziff Davis, Willis SteinPRICE: $150 million (plus $10 million depending on performance)DATE: June 2007TAKEAWAY: Now that it has a new CEO, look for ZDE to become active on the acquisition front, particularly with new media companies.

Clarity Partners/Modern Luxury

BUYER: Clarity PartnersSELLER: Modern LuxuryPRICE: $250 million (est.)DATE: MayTAKEAWAY: Clarity bought into the hot concept of regional luxury magazine markets for a hefty price, from a private equity fund that built the media company up and sold out for an...

Ascend’s Divestments

SELLER: AscendBUYER(S): BNP Media (17-title Professional Services Division, including Stagnito Communications); AEGIS Communications (four-title Dental Group); Red 7 Media (EXPO)PRICE: Professional Services ($30 million est.); EXPO ($N/A); Dental Group ($N/A)

Primedia Enthusiast

BUYER: Source InterlinkSELLER: KKRPRICE: $1.2 billionDATE: May 2007TAKEAWAY: The final divestment for Primedia wipes away its debt after a five-year pay down. Source Interlink, however, emerges as a "shocking" winner, paying well beyond what the sale was expected to collect.

Top Deals of 2007

After consecutive years of record-breaking media deals (both in volume and value), there are finally signs that the industry is cooling slightly. The credit market, so favorable to many of the jawdropping multiples seen over the past two years has...

Q+A: The Next B-to-B Giant?

British buyer Incisive is an aggressive entrepreneurial startup with a growing digital business. U.S.-based ALM is a market-leading traditional b-to-b publisher. This Odd Couple could be a perfect match.

New Manufacturing Realities

Magazine production has changed dramatically in the last few years. Tools and standards that came to the forefront in 2007-ad portals, virtual proofing, online insertion orders, PDFs-were not exactly new but gained significant ground with publishers and printers. Publishers today...

Face Up: Architectural Record

ISSUE: December 2007FREQUENCY: MonthlyLAUNCHED: 1891CIRC: 118,000EDITOR: Robert IvyPUBLISHING COMPANY: McGraw-HillCREATIVE DIRECTOR: Kristofer Rabasca