Hearst Communications Inc., the century-old media conglomerate, is among final bidders competing to acquire Ascential Plc’s consumer trend-spotting unit, people with knowledge of the matter said.
(Bloomberg) — Hearst Communications Inc., the century-old media conglomerate, is among final bidders competing to acquire Ascential Plc’s consumer trend-spotting unit, people with knowledge of the matter said.
The data analytics firm’s WGSN business has also attracted offers from private equity firms BC Partners and Apax Partners, according to the people, who asked not to be identified discussing confidential information. Ascential could pick a winning bidder in the coming weeks, they said.
WGSN, which offers paid-for subscriptions and bespoke consultancy services to help companies understand customer trends, may fetch about $1 billion or more, the people said.
Deliberations are ongoing and no final decisions have been made, the people said. A representative for Ascential, Apax and BC Partners declined to comment. A spokesperson for Hearst didn’t immediately respond to requests for comment.
London-listed Ascential is working with JPMorgan Chase & Co. on the WGSN sale, Bloomberg News has reported. The divestment is part of a breakup plan announced in January.
The plan to split itself up also includes a separation and listing of its digital commerce assets in the US. Ascential intends to keep its events unit listed in London.
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