American Lawyer publisher ALM Media, which was once controlled by Wall Street dealmaker Bruce Wasserstein, is exploring a sale that could fetch more than $500 million, reports Olivia Oran and Greg Roumeliotis of Reuters.
Oran and Roumeliotis write, “ALM Media, backed by private equity firm Apax Partners, has hired investment bank Jefferies to assist with efforts to sell the company, whose magazines are popular among U.S. lawyers and legal professionals, the sources said.
“The first round of interest from potential bidders starts this week, another person familiar with the process said who added the buyer likely would be another private equity firm.
“ALM, which sponsors conferences and owns legal and real estate publications and sites including the American Lawyer, Corporate Counsel, New York Law Journal and Law.com, was sold to Apax in 2007 for $630 million through the private equity firm’s portfolio company, UK-based Incisive Media Ltd.”
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