American Lawyer Media Being Bought By UK’s Incisive Media For $630 Million


Updated: The deal has been announced, and the official price is $630 million in cash. The deal is expected to close in Q3. ALM had 2006 revenue of about $200 million, while Incisive has annual revenues of about $280 million. Details in release.

Original post: Now this is the kind of big deal Incisive Media CEO Tim Weller told me he was itching to do in U.S., when I spoke to him a few months ago in NYC: it is in the process of buying American Lawyer Media for around $600 $630 million, according to this report in Telegraph. Reports about Incisive’s interest were first report mid last month by AFX. Back then, the price was quoted to be $700 million, so not sure what happened in the interim to bring the price down by $100 million or so.

ALM, parent of the magazine by the same name and, is currently owned by Bruce Wasserstein’s investment and PE firm Wasserstein & Co. The PE firm also owns The Deal.

The story says the two are in exclusive negotiations, though that means the deal is not yet complete…it says the deal could be announced as early as Thursday.Incisive Media’s offer for ALM, which is being financed and underwritten by Royal Bank of Scotland, is understood to have beaten competing bids from US buyout firm Avista Capital Partners and rival business publishers Dolan Media and Source Media, the story says. Elevation Partners, the media-focused buyout firm which has a major stake in Forbes, is also said to have bid for ALM.

Incisive is owned by PE firm Apax Partners. It bought European division of VNU Business Media earlier this year, and bought ClickZ from Jupiter in 2005.

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