Modern Luxury Sale Hits Second Round

The auction of Modern Luxury Media, a publisher of magazines focused on lavish lifestyles, has reached its second round, peHUB has learned. Bidders have ncluded a raft of private equity shops -- we've heard up to 10 firms expressed interest -- and some strategics. Michael Kong, Modern Luxury's founder and ex-CEO, also is trying to get a proposal in place, but is not viewed as a leading bidder. It’s unclear what Modern Luxury can fetch. Berkery Noyes is running the auction. “There was a lot more interest in the business than was anticipated,” a source said.

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