Add Bruce Wasserstein’s American Lawyer Media to the growing list of companies that may be for sale. The Daily Telegraph(via DealBook) is reporting that Wasserstein’s private equity firm US Equity has engaged Credit Suisse to shop around the business, which it acquired in 1997. Last week, the fund acquired Penton Media from Abry Partners for $530 million. (via Dealbook.)
      From the Telegraph: Potential buyers of ALM include Reed Elesvier, Informa and UBM. The company, which is understood to make profits of around $55 million, could fetch between $600 million and $700 million. Anup Bagaria, vice chairman of Wasserstein & Co, said: “We are not sending a book out on ALM and we are not running an auction process. We have talked to people about the company If the right price came along, we could sell.”  It’s not clear why Wasserstein is looking to sell ALM now since with the plethora of media companies on the block, it seems like it’s a buyers’ market. Still,  both public and private buyers will no doubt want to take a look at the company given its well-heeled audience.