Whitestone Communications (New York) reports that there were 84 deals valued at $1.5 billion in the publishing, information and training industries during the third quarter of 2003 compared to 87 deals worth $664 million reported in the third quarter of 2002. Whitestone tracks deal activity for its annual Who's Buying Whom reference.
Whitestone president Baran Rosen said that "although the total number of deals didn't budge from last year, we are seeing signs of more active interest on the part of buyers and sellers. And the multiples being paid...are increasing." Rosen cited United Business Media's purchase of Aprovia for $126 million (13.3x EBITDA), eCollege's acquisition of Datamark for $60 million (11.3x EBITDA) and Advanstar's purchase of Thomon's medical and healthcare titles for $135 million (1.5x revenue).
This article is reprinted with permission from The Business Publisher. Copyright October 17, 2003.
