Competition has officially grown fierce among buyers and sellers of b-to-b media properties, said Richard Mead, managing director of New York-based media investment bank Jordan, Edmiston Group.
"We haven’t seen such active interest since 1999-2000," Mead said. "Unlike in recent years, there is no shortage of quality businesses for sale, nor is there a shortage of quality buyers-strategic and financial, large and small-looking to make deals."
Such competition creates chal-lenges for both sellers and buyers, Mead said. "Sellers need to cut through the clutter and get their properties in front of the right prospective buyers," he said. "Everybody wants to be at the front of the queue."
Buyers, on the other hand, need to be aggressive in marketing themselves to sellers as the right buyer. "And to do that, buyers need to be aggressive not just in financial terms but in every aspect of their approach," Mead said. "They need to be responsive to the seller’s queries and needs, pragmatic in their expectations and demonstrative that they have control over the process. The most successful buyers will collapse the time it takes to complete a deal, make sure no financial contingencies exist and do everything they can to eliminate a seller’s anxiety."