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Jordan, Edmiston lists its own transactions, is bullish for 2002, Whitestone reports 4th quarter decline for entire industry. (Mergers and Acquistions).

The Jordan, Edmiston Group Inc., "investment bankers to the media, information, exposition and software industries," closed 17 transactions "in the tumultuous year just ended," reports CEO Wilma Jordan. Fourteen of them were in the b-to-b and consumer magazine sectors, with the balance in the exposition, database, and newsletter markets.

Among the newsletter transactions was the sale of the subscriber list of Individual Investor by Individual Investor Group Inc. to Kiplinger's Washington Editors Inc.

Stating that "we're bullish about recovery prospects for 2002," Jordan explains, "Perhaps as a portent of the solid recovery we expect this year, the last few weeks have seen a flurry of activity, as we closed four deals:

* The sale of Mary Englebreit's Home Companion to Belvoir Publications;

* The sale Hearst Corporation's Medi-Span, a leading U.S. drug and clinical information database, to Wolters Kluwer;

* The sale of The Association for Information and Image Management International's annual AIIM Exposition and Conference to Advanstar; and

* The purchase by Allured Publishing of Advanstar's Global Cosmetic Industry magazine.

Whitestone Communications

The pace of acquisitions for newsletter and directory businesses dropped 45 percent in the fourth quarter versus the same period a year earlier and 41 percent for the entire year 2001 vs. 2000, according to the investment banking firm Whitestone Communications.

The number of deals in the fourth quarter was 11 vs. 20 in last year's fourth quarter. For the full year, it was 36 transactions in 2001 vs. 61 in 2000.

The dollar value of M&A deals was boosted in the fourth quarter by the sizeable--$125 million--acquisition of Bacon's Information directory business by Sweden's Observer Group from Primedia.

"Deal-making in the newsletter-directory field got hit by a one-two punch of the economy and September 11," says Whitestone communications associate Jenifer Lindenman. "Buyers became wary of making any acquisitions in the fourth quarter due to all the business uncertainty. With the stock markets showing improved results and the economy perhaps turning by mid-2002, we will see M&A activity pick up."
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Publication:The Newsletter on Newsletters
Date:Jan 31, 2002
Words:333
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