The first few weeks of 2004 brought the predicted upturn in mergers and acquisitions.
Among the deals announced in January were Endurance Business Media's acquisition of Prince Communications, which publishes Homes and Land Magazine; PBI Media's merger with Chemical Week Associates and its purchase of SRI Consulting's Chemical Business Services; and Euromoney Institutional Investor's acquisition of conference manager Information Management Network.
"What drives acquisitions is optimism", said Baran Rosen, president of M&A firm Whitestone Communications. A recovery in corporate profits has historically led to more advertising spending which has boosted optimism in the battered b-to-b media sector.
Whitestone Communications took a slightly different view, tabulating that the number of trade magazine/trade show deals increased from 29 to 32, a 10% jump, between 2002 and 2003. The dollar value of these deals leapt from $175 million to $355 million, a 103% increase.
This is an excerpt from an article by Sean Callahan for BtoB Magazine; January 2004. .
