The absence of a business model to make up for the decline in print advertising revenue continues to plague many publishing companies in the US. Layoffs are becoming the norm at newspapers fighting to remain relevant in a crowded digital market. Trust in the media might be at an all-time low.
It appears the well-documented struggles are starting to discourage private equity groups from dipping into the US publishing world. Since the start of 2010, 181 PE investors have completed 223 deals in the sector, per the PitchBook Platform, but activity dipped this past year to 23 deals, a decade low. A bulk of activity since 2010 occurred in the Mid-Atlantic region, which accounted for 37% of deals, topping the Great Lakes (18%) and the West Coast (15%).
Here are the top nine PE investors in US publishing since the start of 2010, along with investment counts.