Trader Classified Media has hired Morgan Stanley to help it conduct a strategic review alongside longtime adviser LongAcre Partners.
TCM is the Amsterdam-based traditional classifieds company and owner of 575 print titles, ranging from Canada’s Auto Trader magazine to Buy & Sell Chinese in the US.
The company also announced its first half earnings today, and its operating profit gained 14.5 percent in the first half thanks to its Internet operations. “For the second half of 2005, we expect that our Internet organic growth will be above 30 percent and will drive total organic growth of between 6 percent and 8 percent,” Chief Operating Officer Didier Breton said.
FT: CEO John McCall MacBain said he had been approached by four possible bidders, “including some internet players”. He would not comment on speculation that online market leaders such as Google, Yahoo and eBay had shown interest.
Related: Trader Classified Being Courted By Google, Yahoo & eBay
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