Media General sells financial services unit to new co. formed by VS&A Comm.
MGFS is a financial data publisher offering fundamental and technical information on over 12,000 publicly traded U.S. and Canadian companies, over 200 industry groups, and major markets in the U.S. and worldwide. Its databases carry annual and quarterly financial information, split-adjusted price and volume data, earnings estimates, institutional and insider statistics, and a variety of financial and performance ratios. Its products are targeted to institutional investors, major corporations, academics, and individual investors.
The acquired company will be used by VS&A Comm. Partners as a platform for growth in the financial information industry. The purchase is "the first step in creating a significant independent provider of global financial data," VSS general partner Scott Troeller said. "MGFS represents a highly attractive platform from which to grow both organically and through selective acquisitions in a sector populated by numerous independent data providers that, if combined, could benefit greatly from cross-selling opportunities and cost synergies."
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|Title Annotation:||Media General Financial Services Inc. sold to CenterPoint Data, Inc.|
|Comment:||Media General sells financial services unit to new co. formed by VS&A Comm.(Media General Financial Services Inc. sold to CenterPoint Data, Inc.)|
|Article Type:||Brief Article|
|Date:||Oct 17, 2003|
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