Penton Media on the block

Penton’s Up For Sale; Hires Banker  says

The B2B media firm Penton Media, taking advantage of the uptick in the B2B media M&A, has put itself up for sale. It has hired Credit Suisse Securities and Allen & Company to help in the process of exploring strategic options, including sale.
The official reasoning given on the move: said CEO David Nussbaum: “it is an opportune time to evaluate strategic alternatives was based on a number of factors, including that management has successfully improved operating income since the industry recession in early 2001 and the board’s belief that the market is currently very attractive for business-to-business media assets.” The company is among the oldest in existence: it was founded in 1892 by Canadian immigrant John Augustus Penton.

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