Thsi press release just in from American Legal Media..
It’s now official .
They write in a press release sent out yesterday that…
ALM, formerly the U.S. operating unit of Incisive Media, today officially announced its new operating structure and name. ?Effective today, the assets Incisive Media purchased through the acquisition of ALM in 2007 will become a separately structured, independent company operating once again under the ALM brand, pending regulatory approval. ?ALM will continue to be majority-owned by funds advised by Apax Partners.?
Royal Bank of Scotland will swap a portion of its existing ALM debt for a 49% equity stake in the company and become a minority owner of ALM.
Following a transition period, ALM will no longer share operations or infrastructure with Incisive Media, although the two companies expect to continue to collaborate on content sharing.
William L. Pollak will continue to serve as president and CEO of ALM. ?The senior management team of the company will remain unchanged.
We wonder what all this means for the Incisive brand. They’d only just managed to get their name onto everything..now they’ll? have to remove it.
- Will the company carry on consolidating local publications ??
- Will jobs be lost ? .. it looks as though senior management have saved their hides for the time being. Let’s hope that they don’t cut too much further down the feeding chain
- We also wonder whether that breath of fresh air that Incisive brought to ALM in terms of reporting style and story ideas will continue or whether we slowly revert to the safe old ALM?
- What will become of Legal Week in the UK?
This and many other questions will be answered, we presume, in the upcoming months.
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