(Reuters) - British communications and events company UBM Plc (UBM.L) is exploring a sale of PR Newswire Association LLC in a deal that could value the distributor of press releases at more than $700 million, according to people familiar with the matter.
UBM is in discussions with potential buyers, including private equity firms, about selling PR Newswire, the people said this week. There is no certainty UBM will decide to divest the business, the people added.
Communications and events company UBM Plc said it would buy trade show organizer Advanstar Communications for $972 million, becoming the top events organizer by revenue in the United States, but its shares fell on concern it had overpaid. News that UBM would fund the deal through a 563 million pound ($912 million) rights issue also dampened sentiment. Reuters reported last month that UBM was looking to buy Advanstar for about $900 million. Many in the market had thought the company would pay for Advanstar by selling its PR Newswire business, analysts said.
Burgeoning innovation, rising corporate investment and a year-end rush to beat the tax man drove robust mergers and acquisitions in 2012 for the media, information, marketing and technology sectors. M&A surged to 1,351 transactions for the year, or 50% more than in 2011, at a total value of nearly $75 billion, according to The Jordan, Edmiston Group, Inc.
Advanstar, one of the world’s largest producers of trade shows and events, is on the verge of expanding its deep-rooted relationships in fashion, licensing and motor sports through a series of restructuring in the Fashion and Retail Groups.
• Source Interlink Media, parent company of Power & Motoryacht and SAIL magazines, has announced the appointment of Doug Evans to succeed Dennis O’Neill as senior vice president of its marine group.• Robert Ehlers has been named executive director of marketing for Advanstar Communications’ Life Sciences Group.
This spring, Barnes & Noble announced that it would offer both print publications and digital editions of more than 1,000 magazine titles to visitors of BN.com. The e-editions will be fulfilled by Barnes & Noble partner Zinio. Indeed, it’s just one more indication that, despite some debate on their future, digital editions are becoming a viable alternative to print for a growing number of readers. Cambridge, Mass.-based The Gilbane Group recently published a study, “Digital Magazine and Newspaper Editions: Growth, Trends, and Best Practices,” showing that the number of business-to-business publications offering digital editions increased by more than 300 percent in a two-year span
We’re at the midpoint of 2008, and thus far, it’s been a tumultuous year for many publishers. Many, but not all. Publishing Executive spoke with the leaders of five publishing properties about the mounting challenges posed by the rising costs of paper and postage, and the prospects of recasting their organizations as players in the ever-evolving e-media environment. All five of these organizations, as it turns out, are prospering in spite of the challenges. In fact, several of them are significantly growing their businesses—and, in doing so, are bucking what many would consider the conventional wisdom of “riding out” these difficult times by
When approaching the subject of digital editions—those e-publications that preserve print layouts in a user-friendly format, often enhanced with embedded multimedia features—an obvious question comes to mind: What can this platform offer a publisher that a good Web site cannot? “That’s the question we get all the time,” says Cimarron Buser, vice president of marketing and product planning at Southborough, Mass.-based Texterity Inc., who recently pioneered a digital publishing solution for the Apple iPhone. “We know that the way people read Web sites is different from the way they read magazines,” says Buser. “Web sites are more episodic; there’s a lot of
Publishing Executive's first annual list of North American magazine publishing companies that rank highest among their employees.
Veronis Suhler Stevenson (VSS), a private equity firm that invests in the media, communications, information and education industries in North America and Europe, announced this week that it has entered into a relationship with William Cobert, former CEO of Canon Communications, to explore the acquisition of trade events, conferences, magazines and e-media businesses in the business-to-business media sector. Cobert is the founder and CEO of EBITDA Media, a private holding company for business-to-business media investments. Cobert and VSS have worked together in the past, as Canon Communications—a producer of print publications, trade shows and digital media—was a VSS portfolio company from 1996 to 2005.