Drop in M&A activity levels off in first quarter, Whitestone reports.

The decline in the pace of mergers and acquisitions in the publishing, information and training fields leveled off in the first quarter of 2002 when compared to the fourth quarter of 2001, according to White-stone Communication's (New York) report Who's Buying Whom. According to Whitestone, there were 85 acquisitions in first quarter of 2002 compared to 83 deals in the fourth quarter of 2001. Whitestone reported 125 deals in the first quarter of 2001 and 140 deals in last year's second quarter.

The value of the deals in the first quarter totaled $1.94 billion, including the $760 million purchase of Reiman Publications by Reader's Digest, as compared to a valuation of $684 million in the fourth quarter. The number of investments in the first quarter was down from fourth quarter 2001, from 28 to 21, but the value of the investments increased from $213 million to $290 million.

The sectors with the most acquisitions in the first quarter were Training (16), Internet (12), and Business & Trade Magazines (10).