U.S. publishers peering northward
BALDWIN, N.Y.? Kevin Kamen says U.S.-based print media executives have expressed so much interest in Canada that he is expanding his service northward.
Media appraiser and brokerage firm Kamen & Co. Group Services is also expanding overseas in the U.K. and Ireland for the same reason. It currently has an office here and in Tampa. The company offers labour negotiation services, business planning, appraisals, feasibility and market analysis, circulation building and executive/staff training.
In a recent interview, Kamen said that in the past six months between 15 and 20 American publishers have expressed an interest in partnering with or partially acquiring Canadian media companies. Current ownership rules limit foreign companies to a 49% stake in existing domestic media operations although foreign investors can finance and own 100% of a Canadian start-up. “They are interested in making inroads into Canada,” says Kamen of his U.S. clients. “They wouldn’t make a major investment without doing due diligence.” That’s where Kamen & Co. would come in; Canadian publishers interested in partnering or selling a stake in their business would open their books to Kamen & Co. as part of the due diligence and valuation process. Kamen says he will not be opening a physical office in Canada.