Mergers & Acquisitions
ALM Plans Post-Buyout Expansion
Posted Jul 6, 2007 8:51 AM CDT
By Debra Cassens Weiss
The CEO of American Lawyer Media, now known as ALM, says the legal publishing company is positioned to expand overseas and on the Internet after its acquisition by London-based Incisive Media.
Incisive, a business publisher, will pay $630 million to buy ALM, the two companies announced yesterday, ABAJournal.com reported. The acquisition will double the size of Incisive, according to American Lawyer, which is published by ALM.
"One of the main ideas here was to bring our brand of legal journalism to Europe and Asia," ALM CEO William Pollak told American Lawyer. "Until now, we haven't had that platform." He also said the U.S. company will be “piggybacking on [Incisive's] Internet expertise."
Pollak told the magazine that journalism standards would remain in place after the transfer. “I don't think they intend to tinker with the formula,” he said. “They can enhance what we offer."
ALM also publishes the National Law Journal, Corporate Counsel, and several local legal newspapers.