Cygnus May Be on the Block

B2B media firm Cygnus Business Media is looking for a buyer, Folio reports…the deal is at the stage where potential buyers are preparing a first round of bids. Owned by Westport, Connecticut-based CommerceConnect Media (which in itself is owned in part by PE firm Abry Partners), Cygnus has 65 magazines, 70 websites, 45 events and 2005 revenue of about $117 million, according to Folio calculations. The company was bought for $275 million in 2000 from Gerry Hogan, Blair Schmidt-Fellner and Kelso & Company.
Abry also owns Penton Media, which may be put on the block sometime over the next 12 months, the story says.

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