New York—The pace of acquisitions among publishing, information and training companies slowed in the third quarter, according to a report released Wednesday by mergers and acquisitions firm Whitestone Communications, which tracks acquisitions for its annual reference, "Who’s Buying Whom."
"After a second quarter that saw deals increase by 71% over the same prior year period, we had a quarter where the number of deals actually dropped slightly from last year—from 84 in the third quarter 2003 to 77 this past quarter," Whitestone President Baran Rosen said in a statement.
The number of trade magazine and trade show deals fell to seven in the third quarter, from 11 in the year-earlier period. The dollar value of the deals fell 96% to $13 million, from $163 million in last year’s third quarter.
"Buyers continue to be wary about the magazine industry’s dependency on advertising and the field’s ability to compete with other media, such as the Internet," Rosen said.