I love it. Alan Meckler, CEO of publicly traded Jupitermedia, is blogging today about why his company sold some of its most well known online and offline properties.
Links with summaries added by Murdok Editor:
Why We Sold Search Engine Strategies
I presume you have read the news that we signed an agreement today to sell our Search Engine Strategies trade shows along with our ClickZ network of Web sites?
Why the sale? The simple reason is that Jupitermedia has evolved from being a media company with images into an Image company with media.
Jupiter Gets Out Of B2B Media Orbit, Publisher Sells ClickZ, Trade Shows
IN A SIGN THAT THE M&A market for business-to-business media is still healthy – at least for publishers in the online media sector – Jupitermedia Corp., a leading publisher of research and news about online media news Tuesday announced the sale of its online news sites and a series of trade shows about search engine strategies for $43 million in cash. The buyer, London-based trade publisher Incisive Media plc, will be paying about one-time full 2004 revenues for the Jupitermedia assets. For calendar 2004, Jupitermedia reported $39.9 million in revenues for its online media and events divisions. The units generated $23.6 million in gross profits that year.
Comments posted at Micro Persuasion:
Steve. I agree. It’s nice to see a CEO blog why something has been sold. However, it will be more refreshing one day when a CEO says something like, “We sold it because we couldn’t believe they’d pay that much for it.”
Posted by: Rex Hammock
Interesting sale. Nice that it’s blogged, but I wonder…. with more images being posted under Creative Commons, is there REALLY that much greater value in images?
Posted by: GregBurton
Steve Rubel is a PR strategist with nearly 16 years of public relations, marketing, journalism and communications experience. He currently serves as a Senior Vice President with Edelman, the largest independent global PR firm.
He authors the Micro Persuasion weblog, which tracks how blogs and participatory journalism are changing the public relations practice.
