The owner of American Lawyer, one of the mainstay magazines for the legal industry, has put the magazine’s publisher up for sale, a person briefed on the matter said on Tuesday.
The firm, Apax Partners, has hired Jefferies to oversee potential sale of ALM Media, this person said, cautioning that the investment concern may eventually decide against parting with the media company.
If ALM is sold, it would begin life under yet another new owner. One of Apax’s portfolio companies acquired the publisher from Wasserstein & Company, the investment vehicle of the late deal maker Bruce Wasserstein, in 2007 for about $630 million.
ALM, which Wasserstein & Co. assembled from a number of legal publications and services that now include Websites and a conference business. Among its most prominent assets are American Lawyer, The New York Law Journal and The National Law Journal.
News of Apax’s move was reported earlier by Reuters.
