One financial institution Thursday sold a group of construction and housing trade magazines to another financial institution in a deal that appears to be boosting multiples for magazine M&As. Media
industry investment banker Veronis Suhler Stevenson has sold Hanley Wood LLC, publisher of 22 trade magazines such as
Builder and Remodeling and related Web sites, to J.P. Morgan Partners for
$650 million. At that price, media M&A experts Jordan Edmiston Group estimates the transaction fetched a healthy multiple of 13.8 times EBITDA. -- J.M.
