Elstein writes, “Take Reorg, which provides news and analysis about corporate restructurings and bankruptcies to about 20,000 subscribers. The six-year-old publisher saw revenues reach about $34 million in 2017. Last year it joined Crain’s Fast 50 list of the quickest- growing New York businesses, and private-equity firm Warburg Pincus acquired a controlling stake in Reorg in a deal that valued it around $400 million.
“Then there’s Acuris, publisher of trade publications Debtwire and Mergermarket. In 2017 its owner, private- equity firm BC Partners, sold a 30% stake for about $350 million to Singapore’s GIC sovereign wealth fund. It has enlisted Goldman Sachs and JPMorgan Chase to find a buyer for the rest. BC is looking for $1.3 billion, Bloomberg News reported.
“Don’t forget The Deal and BoardEx, which were sold for $87 million in December. That’s three times more than TheStreet paid to acquire them only a few years ago. The Deal specializes in news about business mergers, financings and restructurings; BoardEx is a database of information about board members, corporate executives and investment bankers.
“Notice a pattern? Outlets that appeal to the masses such as BuzzFeed and HuffPo are struggling. Publications that cater to the needs of a specific readership and do it well are doing just fine.”
Read more here.
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