JEGI Represents Money-Media in Sale to Pearson
New York, NY January 3, 2008 – Pearson (www.pearson.com), the international education and information company, announced the acquisition of Money-Media (www.money-media.com), the US-based leader in online news and commentary for the money management industry, from Michael D. Griffin, Money-Media’s sole voting shareholder and CEO.
The Jordan, Edmiston Group, Inc. (www.jegi.com), the New York-based investment banking firm that specializes in media and information, represented Money-Media in this transaction and acted as its exclusive financial advisor.
Money-Media, through its products Ignites, Fundfire, BoardIQ, Agenda and ODX, offers highly-respected online services, publications and conferences. It provides must-have news and analysis via e-mail and its web sites to mutual fund managers, institutional investors, high-net-worth individuals, company directors and advisers. The company had revenues of $16 million in 2007, approximately two-thirds of which were generated through subscriptions with high renewal rates.
Money-Media’s specialist services will improve the ability of the Financial Times to reach the asset management community in the US, enhancing its recent launch of a US edition of FTfm (its dedicated fund management newspaper supplement); and globally, building on the FT’s unique global franchise.
“This acquisition supports and extends our strategy of building strong subscriber and digital businesses in core sectors,” said John Ridding, Chief Executive of the FT. “Asset managers need reliable, relevant and timely information about the globalization of investments, diversification of asset classes, mitigation of risk and frequent changes in regulation. Money-Media has built a senior and loyal audience in the US, and we see substantial scope for international growth with the FT’s global presence and expertise behind it.”
Money-Media offers a group of world class publications and conferences, providing companies with unparalleled sources of information and education. For nearly 10 years, Money-Media has focused on being the premier source of intelligence for investment management and corporate governance officials and now supports the business IQ of thousands of corporations and organizations across the globe. Money-Media has created a number of innovative publications and products and boasts a team of nearly 70 top-notch employees who take pride in helping your business meet and exceed its business goals and objectives.
Pearson is an international media company with market-leading businesses in education, business information and consumer publishing. Pearson leads its markets in quality, innovation and profitability. It draws on common assets, capital, processes and culture. With more than 29,000 employees in 60 countries, Pearson is a large family of businesses that are alike in sharing the same aim: a focus on making the reading and learning experience as enjoyable and as beneficial as it can possibly be.
The Jordan, Edmiston Group, Inc. (JEGI) of New York, NY is a leading provider of independent investment banking services for the media and information industries. As a leading M&A advisor to media and information companies, JEGI has closed numerous high-profile transactions for: Global Media and Information Companies; Entrepreneurial Owners; and Private Equity and Venture Capital Funds. JEGI has established an impeccable reputation in the marketplace, which reflects its superior performance on behalf of its clients. The firm’s executive team of investment bankers has over 200 years of combined experience across the media and information market sectors that JEGI serves.