Fortune, Money and Time could fetch $100 million
A prospective buyer of Fortune, Money and Time magazines should expect to pay more than $100 million for the titles, reports Keith Kelly of the New York Post.
Kelly writes, “Houlihan Lokey is handling the sale of SI while Citigroup is in charge of the sale of the other three titles — signaling that Meredith expects at least two different buyers.
“Of the three-title package, Time and Money are the marginal ones. Fortune, with its signature Fortune 500 annual listing and conferences, is the most profitable.
“Clearly, Sports Illustrated is the best of the four.
“‘They think SI swimsuit alone could be a brand,’ said one media dealer who has seen the pitch.
“The four titles are expected to attract many suitors.
“‘But it’s not about buying a great asset that is going to give you a return on investment — it’s about influence and power,’ said one source.”
Read more here.