M&A advisors Whitestone Communications, Inc. reported 29 newsletter/directory acquisition deals last year, 11 more than the 18 reported in 2003. The values for 2004 soared ten-fold over values of the previous year, coming in at $337 million compared with just $36 million in 2003. Whitestone Communications associate Jenifer Lindenman said last year's results show that specialized-information publishers have weathered two major challenges - intense competition from free information and the post-9/11 recession. American Securities Capital's acquisition of Phillips Health, LLC, for what Whitestone estimates was $180 million led 2004's transactions. Other major deals included James Finkelstein's purchase of Thompson Publishing Group, Inc. and Brownstone Publishers, Inc.'s sales of its health care titles to HCPro, Inc. and its real estate publications to the newly formed Vendome Group.
This article is reprinted with permission from Hotline. Copyright January 24, 2005.
