Whitestone Communications, Inc. also reports an increase in newsletter M&A activity. Whitestone reported 11 newsletter deals in the third quarter of this year, compared with four in the same quarter last year. The value of the deals skyrocketed from $4 million last year to $218.1 million in July, August and September this year, largely because of the sale of Phillips International to ACI Capital Co Inc. and American Securities Capital Partners, LLC. Whitestone estimates that deal was worth about $180 million. Another deal of note introduced a new buyer to the newsletter market — two former Wolters Kluwer executives formed Vendome (Hotline, Sept 13), which purchased the real estate newsletters of Brownstone Publishers, Inc. and is looking for more properties to acquire.
This article is reprinted with permission from Hotline. Copyright October 12, 2004.
