British Media Company to Purchase ALM

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Alison Frankel

07-06-2007
ALM, publisher of the New York Law Journal, The American Lawyer, The National Law Journal, Corporate Counsel and 30 other national and regional publications, will be sold to London-based Incisive Media for $630 million, according to a joint announcement today by the two companies. Both Incisive CEO Tim Weller and ALM CEO William Pollak characterized the sale as an opportunity to expand ALM's business internationally and on the Internet. The deal, which is expected to close at the end of the third quarter, will leave ALM's management intact. Incisive, which has annual revenue of $280 million, is a rapidly growing business-to-business publisher with operations in New York, London and Hong Kong. "One of the main ideas here was to bring our brand of legal journalism to Europe and Asia," said Mr. Pollak. "Until now, we haven't had that platform." ...