CFO magazine on the block

Jason Fell of Folio reports that The Economist is looking to sell CFO magazine.

Fell reports, “According to a pair of sources familiar with the process, the Economist Group has been in negotiations with a number of potential buyers, possibly since January. ‘Itâ€™s been a pretty well-guarded secret,’ one source who wished to remain anonymous told FOLIO:. ‘Itâ€™s been an informal auction process. Theyâ€™ve been reaching out to people through third party groups.’
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“Another source indicated that the Economist Group had retained the Jordan, Edmiston Group to broker a sale. When contacted by FOLIO:, a JEGI spokesperson declined to comment.

“An Economist Group spokesperson declined to ‘comment on rumors.’
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“One of the interested parties, according to one source, was Stamford, Connecticut-based Asset International, which is backed by private equity group Austin Ventures. ‘They got pretty close to a deal this summer,’ the source said. ‘From what I understand, they had an agreement in principal but, with CFOâ€™s falling revenues, the deal dissolved.'”

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Anonymous says:
September 15, 2009 at 11:17 pm
Revenues were there until they axed many talented individuals. If The Economist Group is wondering where revenues have gone they only have themselves to blame. It's no secret and so sad that the way things are CFO Publishing can be equated to The Titanic.