NORWALK, Conn.--(BUSINESS WIRE)--March 10, 2005--GE Commercial Finance Global Media & Communications announced today that it has closed a $345 million credit facility for ALM Media, Inc., as Administrative Agent. ALM Media, Inc. (formerly American Lawyer Media, Inc.) is a leading integrated media company, focused on the legal and business communities. The credit facility will be used to refinance existing debt and will also serve as liquidity for future strategic acquisitions by the company.
GE Commercial Finance committed $94 million to the facility.
Headquartered in New York City, ALM currently owns and publishes 39 national and regional magazines and newspapers, including The American Lawyer(R), Corporate Counsel(R), The National Law Journal(R) and Real Estate Forum(R). ALM's Law.com(R) is the Web's leading legal news and information network, while ALM's GlobeSt.com is the Web's leading information source for commercial real estate professionals. Other ALM businesses include book and newsletter publishing, court verdict and settlement reporting, production of professional trade shows, conferences and educational seminars, market research and content distribution. ALM was formed by U.S. Equity Partners, L.P., a private equity fund sponsored by Wasserstein & Co., LP.
"We have had a financing relationship with Global Media & Communications for several years, and are gratified by their ongoing commitment to our firm, as evidenced by their leadership and substantial commitment to the facility for ALM Media," said Anup Bagaria, vice chairman and managing director, Wasserstein & Co., LP.
"Global Media & Communications has long been dedicated to providing support to specialized, growing, b-to-b information companies, and our team is pleased to demonstrate this dedication on behalf of ALM - one of the industry's most evident success stories - and to their well-respected management team," said Tim Huban, managing director and team leader, media origination, Global Media & Communications.
About GE Commercial Finance Global Media & Communications
With over $5 billion in assets and offices in Atlanta, Chicago, Delhi, Hong Kong, London, New York, Norwalk, and San Francisco, GE Commercial Finance Global Media & Communications represents a "one-stop" source for the comprehensive range of GE's lending and other structured financial services offered to the media, telecom, leisure & entertainment, and technology marketplace. For more information, please visit www.gegmc.com.
About GE Commercial Finance
GE Commercial Finance, which offers businesses around the globe an array of financial products and services, has assets of over $230 billion and is headquartered in Stamford, Connecticut. General Electric (NYSE: GE) is a diversified technology, media, and financial services company dedicated to creating products that make life better. For more information, visit the company's website at www.ge.com.
Contacts
GE Commercial Finance
Ned Reynolds, 203-229-5717
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TorranceCo
Jim Marren, 212-786-6133
Jeff Wilson
GE Capital Corporate Finance
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1-203-749-6340