The already fast pace for healthcare publications deals continues to accelerate as CMP Media LLC closes in on SCP Communications Inc.'s two publishing divisions in a deal expected to be worth $40 million according to sources familiar with the bidding.
...Any multiple over 1 times sales, a source said, suggests that the healthcare field is hale and hearty.... Aprovia UK, a construction trade publisher and event organizer, United Business Media went 2.5 times sales.
Baran Rosen, the president of M&A advisory Whitestone Communications Inc., said the Aprovia acquisitions represented the strongest bet yet on a trade magazine turnaround. "I was very surprised [United Business Media] did an acquisition of that size, given the company's own internal performance over the past two years," he said.
This is an excerpt of an article from The Daily Deal, by Richard Morgan, October 20, 2003.
