I'm a publisher who started as an editor. I've been an editor in chief, a group publisher, even an editor/publisher. It would stand to reason, then, that I would be an advocate for organizations promoting their top editors to publisher positions when practical.
Articles by FOLIO: Magazine Staff
q: What were your thoughts coming into last year?
buyer: JP Morgan | seller: Veronis Suhler Stevenson | price: $650 million | date: May takeaway: The largest magazine deal of the year (and second largest b-to-b deal ever) will be worth every penny;if Hanley Wood continues to grow.
buyer: Lebhar-Friedman | seller: Dowden Health Media | price: $41 million | date: March takeaway: Lebhar-Friedman diversifies beyond its longtime core markets, but did it make the right choice as a line extension?
Despite the influx of technologies that should make magazine workflow easier, the process of producing a magazine and bringing together all the components;editing, advertising, art;and sending it in a workable file to the printer is getting no less difficult or complicated.
buyer: Meredith Corp. and Joe Mansueto | seller: Gruner + Jahr USA | price: $350 million for Meredith; $35 million est. for Mansueto | date: May/June
buyer: PlanetOut | seller: LPI Media | price: $31 million| date: November takeaway: An online media company looks to print to double its revenue and set the stage for future growth.
buyer: Questex Media, Audax Group | seller: Advanstar Communications | price: $185 million | date: April takeaway: The Questex spin-off gives neglected properties a chance to shine, if its new owners are willing to commit to developing them.
buyer: Wasserstein & Co. | seller: Primedia Business, Kohlberg Kravis Roberts | price: $385 million | date: August takeaway: Primedia's sale of its business division left the shrinking company with only its top breadwinners;enthusiast and consumer guides. Freshly renamed Prism Business Media gives Wasserstein, now a major publishing player, an instant platform for bolt-on deals.
The Movers and Shakers Even for those who perennially claim the upcoming year will be "the best yet for media M&As," 2005 was a pleasant surprise. The Jordan, Edmiston Group tallied 33 consumer-magazine deals, worth $2.47 billion, in 2005, while b-to-b magazine deals numbered 43, worth $2.4 billion. Apprise Media's Charles McCurdy and Michael Behringer were among the busiest.