TransWestern Publishing issued a brief press release today announcing that it has engaged Goldman Sachs to "explore strategic alternatives." Generally, this language translates into, "We are for sale."
One question of course is, who is the likely buyer? Yellow Book always comes to mind whenever the sale of any major independent comes up (or any independent for that matter). Another private equity transaction is always a possibility. Or what about another media player? Hearst bought White in order to broaden its customer and content base, not to mention its cash flow and revenue stream. Who’s to say another media player won’t show an interest in a company that has revenues of close to US$400 million and an EBITDA margins of around 30 percent?