The Thomson Media unit of Toronto-headquartered North American print publisher Thomson Corporation is again on the market as its parent seeks to enhance its status as a fully-fledged electronic information distributor.
Thomson Media ceo Jim Malkin explains that the magazines group, which numbers American Banker and Investment Dealers' Digest among its 54 publications, does not provide the type of synergies to strengthen Thomson's view of an electronic future. Thomson First Call is helping to lead the way in this respect, providing electronic corporate earnings estimates and broker research.
Originally on the market before the 9/11 terrorist attacks, Thomson abandoned hopes of a top sale for the magazines group as the advertising market took a nosedive. Now, in optimistic mood, Malkin anticipates better fortunes: "We've had very good results this year and the market has turned."
Remaining coy over the expected value of the sale, Thomson aims to wrap the deal later in the year under the guidance of investment bank Morgan Stanley. Analysts estimate the group's worth at over $200 million (€162.2m; £108.5m).
Data sourced from: The Wall Street Journal Online; additional content by WARC staff