Global private investment firm Investcorp today agreed to buy Thomson Media, a business publication unit, from Canada’s The Thomson Corporation for $350 million cash.
Thomson Media, with titles including American Banker, The Bond Buyer, National Mortgage News, and Investment Dealers’ Digest, had been on the block for some time. In 2003, the unit had revenues of $170 million.
Jim Malkin will remain chief executive officer of Thomson Media.
Investcorp manages a buyout, venture capital, real estate and fund of hedge funds programme valued at approximately $8.6 billion. The firm is publicly listed on the Bahrain Stock Exchange but has offices in London and New York.
The firm has had some success with publishing businesses. Last year it, with parther MidOcean Partners, sold yearbook company Jostens to DLJ Merchant Banking for $1.2 billion. Investcorp had originally purchased the company in 1999 for $826 million.