Wasserstein Explores “Strategic Alternatives” for ALM (posted 3/21)
The move comes shortly after Wasserstein merged Prism Business Media (formerly Primedia Business) with Penton Media in January. Wasserstein bought Primedia in August 2005 for $385 million, and teamed with MidOcean Partners to buy Penton for $530 million in late 2006, making it one of the largest b-to-b publishing owners. In addition to ALM, Wasserstein also owns The Deal.
With more than $200 million in estimated revenue, ALM has been a solid performer. The company publishes 34 national and regional magazines and expanded beyond the legal market with the acquisition of Real Estate Media in 2005.