2005 M&A activity increases for ten publishing/info/training categories.The number of deals in ten categories of publishing, information and training companies rose 71% in 2005 when compared to 2004, while the total value of those deals increased 55%, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. figures contained in Whitestone Whitestone may refer to:
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ) "Who's Buying Whom" annual report. The total number of deals went from 349 in 2004 to 379 last year while the value of those deals rose 55%, going from $12 billion to $18.6 billion last year. The number of deals in the Trade Magazine/Trade Show category rose from 31 in 2004 to 53 last year while the value of those deals increased from $561 million to $1.94 billion in 2005 (+246%). Whitestone said some of the deal's valuation multiples reflected the increase in M&A activity, including Hellman & Friedman's purchase of DoubleClick (50x operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. ), The New York Times' acquisition of About Inc.(29.3x estimated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become ) and Wolters Kluwer's purchase of NDCHealth Corp. (28.3x operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. ). Whitestone said that magazines (trade and consumer) had the largest increase in number of deals, increasing from 46 to 67, a 46% increase, with the dollar value of those deals increasing three-fold. Whitestone president Baran Rosen noted that "in 2003 and 2004, magazines were a laggard in recovering from the recent recession. As their advertising pages finally showed some modest improvement in 2005, their bottom lines picked up and the owners were finally able to attract prices that made sense to them." |
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