American Business Media's Business Information Network released figures showing trade show revenue grew 8.9% in 2005, generating more than $9.8 billion in total revenue. Trade show attendance showed a slight increase, up 1.1% compared with 2004, while net square footage increased 9.3%.
VNU reportedly mulls European assets sale
The new owners of media conglomerate VNU are considering selling the company's European business publications and trade shows, Reuters reported. Trade titles in the portfolio include Accounting Age, Holland Art Fair, International Construction Fair and IT Week . A consortium of six private equity firms, called Valcon, acquired VNU for about $10 billion earlier this year following months of wrangling with shareholders. Last month, VNU received shareholder approval to become a private company.
TechTarget takes steps toward IPO
Media company TechTarget is interviewing Wall Street investment bankers to underwrite its IPO planned for next year, according to a person familiar with the situation. The company expects to choose an investment banker before the end of the year and file for an IPO in the first half of 2007. "There are pros and cons to filing an IPO, but the pros outweigh the cons," said the source, who requested anonymity. "The cons have to do with public disclosure, but the pros will be getting a very significant infusion of capital-about a $100 million investment-to expand internationally and do more acquisitions."
PennWell acquires 'Micro' from Canon
Canon Communications has sold the assets of Micro, including its circulation list, to b-to-b media company PennWell Corp. and shuttered CE. Micro , which runs six times a year, covers advanced process and equipment control, defect reduction and yield-enhancement strategies for the semiconductor and related advanced microelectronics manufacturing industries. CE, which covered regulatory compliance for electronics engineers and was published biannually, "was a tiny little product and, with the consolidation of suppliers and manufacturers in that space, the role of advertising went to nothing," said a person familiar with the situation.