ALM, which publishes 33 regional and national magazines and newspapers, focusing on legal and real estate publications such as The American Lawyer, The New York Law Journal and Real Estate Forum, is being sold to a British company for $630 million, writes Steve McGrath of The Wall Street Journal.
McGrath wrote, “ALM, which had 2006 revenue of about $200 million, was formed in 1997 by U.S. Equity, a private equity fund sponsored by Wasserstein & Co.
“Incisive, which currently has annual revenues of about $280 million, focuses on specialist business information for financial services, risk management, professional services and marketing services.
“‘The addition of ALM’s legal and professional services assets to our portfolio will effectively double the size of Incisive Media, deepen our weighting within the desirable legal publishing space, and give our company a balanced presence between Europe and the U.S.,’ said Tim Weller, Founder and Group Chief Executive of Incisive Media, in a statement.”
Read more here.
