Advanstar Ponders Sale of Remaining MagazinesBusiness-to-business publisher Advanstar Communications Inc. is exploring strategic alternatives, including a possible sale of the company, the New York-based firm said yesterday.
The news follows Advanstar's sale of five divisions in April to Questex Media Group, Newton, MA, for $185 million. That deal included the company's technology, travel, portfolio, beauty and home entertainment groups, which consist of 23 trade publications, 50 Web sites, 21 exhibitions and 25 conferences.
Advanstar's remaining business segments are fashion, life sciences and power sports, consisting of 57 expositions, 55 publications and 75 electronic publications.
Also in April, New York-based Primedia Inc. retained Credit Suisse First Boston to explore the sale of its BTB publishing segment, which includes the publications Direct and Multichannel Merchant.
Reports suggest Primedia is asking as much as $450 million for its BTB portfolio. However, a recent article in Folio magazine suggested the company may be forced to lower its expectations if it is to find a buyer.
Chantal Todé covers catalog and retail news and BTB marketing for DM News and DM News.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters