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DLJ to acquire Advanstar

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New York--DLJ Merchant Banking Partners, an affiliate of Donaldson, Lufkin & Jenrette, announced Tuesday it has agreed to acquire business media company Advanstar Inc. from private equity firm Hellman & Friedman L.L.C. for more than $900 million. Acquiring Advanstar with DLJ is Advanstar's management team, led by Chairman-CEO Robert L. Krakoff. With the deal, which is expected to close in September or October, DLJ acquires Advanstar's 103 publications (including Travel Agent Magazine), more than 100 exhibitions and conferences (including the Magic trade shows) and Internet division Hive4.com.
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