Publisher Incisive Media is to be split into UK and US arms, with owner Apax Partners propping up the American Media Lawyer business with $15m, leaving banks to take over the ailing British portion.
Incisive added American Media Lawyer to its business-to-business stable in August 2007, at a cost of $630m.
This will be the first time Apax has helped a business continue operating by injecting equity to restructure debt.
Other Incisive titles include, Financial Director, International Investment, The Journal of Photography, Legal Week, and flagship financial management title, Risk.
The Financial Times wrote today that American Media Lawyer’s US legal journals had performed better, benefitting from the high levels of activity relating to the repossession of homes.