Ziff Davis, which owns technology-review websites and electronic publications including PCMag.com, Gearlog and TechSaver.com, has agreed to be sold to a Boston-based private equity firm and a former Time Warner executive, writes Shira Ovide of The Wall Street Journal.
“Ziff Davis won’t have any debt, as would a leveraged buyout, a financial arrangement the new owners feel gives the company the best chance to succeed.
“‘It’s not an LBO deal, it’s not based on cost cutting. This is a build,’ said Chris Gaffney, managing partner at Great Hill Partners. He said the new owners already are looking at other investments to add to Ziff Davis, which Mr. Gaffney said turns a ‘small operating profit.'”
Read more here.
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