Appraisal / Valuation Resources

Determining the value of a business can seem like a daunting task. Here are some appraisal resources to help you understand the terminology and get you started.

From the American Express Small Business Network

Merfeld & Schine on Business Valuations

Business Valuation 101: The Five Myths of Valuing a Private Business

How To Use EBITDA For the Valuation of Your Small Business

Private Company Valuation Methods

Why Operate Without a Report Card: Get an Estimate of Value of Your Company

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Stay abreast of the latest trends in the M&A industry. Read interesting case studies. Track deals throughout the country. Pick up hints from experts and much more.

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Stay abreast of the latest trends in the newspaper industry. Read interesting case studies.
Track deals throughout the country. Pick up hints from experts and much more.

Marlon Wurmitzer – VP Advisory, Media Events/Senior Associate

Canada
Phone: (416) 876-6761
Email: mwurmitzer@mediamergers.com

Marlon Wurmitzer is a 20 year veteran of the technology analyst research, media and events world, having served as SVP Sales and Marketing at The 451 Group, Gigaom, Euromoney/BroadGroup, TechTarget, DataCenterDynamics and CapRate Events. During these difficult times, Marlon is actively helping research, media, event and publishing businesses with their online and virtual event strategy. He is assisting teams through this difficult transition, helping them execute new but proven concepts while providing sales guidance through the process.

Marlon brings a wealth of knowledge on how technology, media and event firms can grow with effective sales strategies. He was also involved with merging assets from acquisitions during his time at these organizations.

A world traveler, Marlon has spent time living in New York City, Los Angeles, Vancouver and London, England. He currently resides in Toronto, Canada and his creative nature comes from being member of the music and entertainment community since he was a teenager.

Jeff Gruenhut — Senior Associate

Atlanta, GA.
Email: jgruenhut@mediamergers.com

A native and current resident of Atlanta, GA – Jeff is married with two wonderful kids aged 9 and 6. After graduating from the University of Georgia, Jeff immediately joined a local media company called Shore-Varrone, Inc as an Account Executive. After spending several years growing within Shore, Bill Communications and VNU – Jeff and 3 other partners successfully launched Formula4media, LLC. In early 2018, F4M successfully sold a portion of their business to Diversified Communications.

Jeff is a seasoned leader in helping businesses succeed by providing guidance and applying past experience, especially from an M&A perspective. With a solid understanding of what it takes to run a profitable organization, Jeff works with companies both large and small in creating an exit strategy. Since joining Grimes, McGovern & Associates two years ago Jeff has helped numerous owners successfully exit by bringing a unique combination of experiences to help navigate complicated buying and selling situations and achieve their financial and business goals.

Jeff is an avid golfer and against the wishes of his wife still plays basketball twice a week.

Dennis DeRossett — Senior Associate

3904 Surry Place
Springfield, IL 62711
Phone: 217-725-5900
Email: dderossett@hotmail.com

Dennis has a 40-year career in the newspaper industry as a publisher, state and national press association executive, and as an industry consultant. He was a publisher at newspapers in Illinois, Ohio, Missouri, Nebraska and Oklahoma, for American Publishing Company, CNHI and Lee Enterprises. His duties included that of regional manager, supervising both weekly and daily newspapers.

He was President & CEO of the Illinois Press Association for over seven years; concurrently, for nearly two years under a management contract he was as Chief Operating Officer for the National Newspaper Association (NNA).

He currently provides consulting services to newspapers, press associations and non-profit organizations.

Dennis and his wife, Katie, live in Springfield, IL. Together they have three children and six grandchildren.

Jay McGill — Senior Associate

Washington, D.C.
708 Rose Square
Alexandria, VA 22314
Phone: (646) 243-5588
Email: jmcgill@mediamergers.com

Jay McGill has over 30 years of consumer media management experience, both domestically and internationally. He has been the Publisher/Group Publisher and Chief Revenue Officer of five category leading consumer magazines.

As Senior Vice President of Hearst Magazines International, he oversaw the operations of 95 international magazine editions and their digital properties in over 30 countries generating over $350,000,000 in annual revenues. In this role he sat on 11 Board of Directors of joint-venture media companies throughout Europe, the Middle East and Africa.

As Founder/CEO of Global Media Initiatives LLC, Jay works with domestic and international media companies, providing a wide range of consulting services from organizational restructuring to business development.

Luciano Pino – M&A Analyst

Email: Lpino@mediamergers.com

Luciano studied Accounting and Finance at the Universidad de Montevideo before moving to Miami to enroll in a MBA program at the University of Miami. Luciano joined Grimes, McGovern & Associates in 2016 and works on a range of tasks including; conducting financial analysis and preparing various marketing materials such as information memorandums, sell-side company teasers and buy-side target lists.

Kevin Rozario – Research Analyst

Email: krozworld@aol.com

Kevin Rozario is a highly experienced London-based B2B journalist and researcher whose business stories and market reports have appeared in numerous international publications. As an editorial research analyst covering the travel-retail industry he has written for Sweden’s Generation Research.

In addition to specialist business-to-business titles including EuroWeek (now GlobalCapital) covering debt and equity capital markets, Kevin has worked for mainstream media including national newspapers such as The Daily Mirror, The Times, and The South China Morning Post, plus the Institute of Directors’ Director magazine and ELLE (Hong Kong).

Kevin holds a BSc (Hons) in Biological Sciences from the University of Warwick and a Postgraduate Diploma in Marketing from the University of Westminster.

John McGovern – CEO & Owner

10 West 15th St., Suite 903
New York, NY 10011
Phone: (212) 255-9700
Email: JMcGovern@mediamergers.com

John joined W.B. Grimes in 2011 to run the Global Media, Events & Information Services Group, which has had excellent growth under his tenure, branching out into new regions and more diverse businesses. Under John, the Global Media Events & Information Services client list grew to include many more sellside and buyside retainer clients than the group had ever had in its history. John brings 30 plus years of strategy, business development experience in the global media, events and online services industries, holding positions such as Senior VP of Thomson Financial, (where he grew revenues from $30m to $90m in six years) Senior VP at the Fair Disclosure Financial Network (which grew from zero to $2m in 18 months under his tenure) and various positions early in his career at Dow Jones/Factiva. John has run global strategy, business development and sales/marketing functions in both large and small organizations, including managing international staff. As the new owner of Grimes, McGovern & Associates, John looks forward to continuing the tradition the Grimes family started of helping small to medium sized business owners grow their businesses, and exit at the right time at the best price. John is an avid tennis player, foodie and movie buff (especially spy movies).

Joseph A. Bella

Senior Associate
PO Box 543
Granger IN 46530
Phone 574-276-1547
Email: jbella@mediamergers.com

Joe Bella has more than 35 years of experience in the newspaper industry on the supplier side. He began his career as a machinist apprentice for a graphic arts machine builder but gravitated through several roles from Customer Service through General Manager, eventually becoming President and co-owner. As President he oversaw the company’s successful growth and evolution of new products as technology for printing newspapers changed from the late 1970s through today. In this role he traveled throughout the Americas and Europe negotiating contracts and deals with fellow suppliers, commercial printers and corporate newspaper groups.

Joe left to start his own supply business in 2004 and has since also started two other companies in retail and as manufacturers rep in automotive and packaging industries.

Joe is married, has one son and has homes in South Bend Indiana and Naples Fl.

Gord Carley — Senior Associate

Canada
23 Ridgewood Court,
Peterborough, ON K9J 8A1
Phone: (705) 772-8282
Email: gcarley@mediamergers.com

For the last 26 years, Gord has started, managed and sold publications on both sides of the border. His publishing experience spans magazines, directories and books. He launched and co-built the two largest employment publications in North America. As well, he is the author of two books on adversity and creator of content sites.

Having sold publications he founded or co-founded, Gord thoroughly understands the emotions of creating, building and then selling publications.

He has an Honors Business degree at the University of Western Ontario. Currently, he and his family live just outside of Toronto where he is also very active outside work coaching and helping out with local sports.

Ken Amundson

Western/Mountain/Southwest States
916 Scarborough Drive
Loveland, CO 80538
Phone: (970) 215-3060
Email: kamundson@mediamergers.com

Ken Amundson heads up the Western region for Grimes, McGovern & Associates. Ken has had a long career in newspapers extending nearly 40 years. He has served as general manager of multiple Colorado newspapers as well as in numerous editing roles. His career began in Marshall, MN, continued in Dubuque, IA, and Loveland, Longmont and Durango, all in Colorado.

Ken is a past president of the Colorado Press Association, a former member of the Colorado Press Foundation, and continues to volunteer with the association.Ken has won numerous awards during his career, including a First Amendment award from the Colorado SPJ chapter. He led a team of reporters and editors that won a national Scripps Howard Foundation environmental reporting award. On the business front, he is most proud of growing circulation (five consecutive years) while most others were losing, while adding advertising revenue in the face of national declines. He has especially enjoyed working with family-owned newspapers.

He has been active in church and community activities throughout his career, serving as president and board member of Kiwanis Clubs, church councils, a youth soccer association, hospital foundation and Head Start board.

Ken and his wife, JoEllen, are owners of a Curves franchise in Loveland. They have two grown children, a nurse and a physical therapist.

Gary Borders — Senior Associate

Southwest
5 Huntington Street
Longview, TX 75601
Phone: (903) 237-8863
Email: gborders@mediamergers.com

Gary Borders worked as a journalist, editor and publisher for nearly 40 years. During his career, Gary served as editor and publisher of Texas newspapers, primarily for Cox Newspapers, in Longview, Lufkin, Nacogdoches, Mount Pleasant, San Augustine and Cedar Park, as well as Junction City, Kansas.

Borders served as president of the Texas Daily Newspaper Association in 2009 and has been active in Texas Press Association for many years. He continues to work as a freelance journalist and has written for World Wildlife magazine, Texas Monthly and Texas Observer./

Julie Bergman – Vice President — Newspaper Group

1004 20th Avenue, SE
East Grand Forks, MN 56721
Phone: (218) 230-8943
Fax: (701) 335-7213
Email: jbergman@mediamergers.com

Julie Bergman heads up the Newspaper Division for Grimes, McGovern & Associates. Julie has been a newspaper publisher for more than 30 years and is co-owner of Page 1 Publications, a group of four community newspapers in Northwestern Minnesota with her husband. She continues to be very active in the sale of newspaper properties in the Midwest and Plains states.

Julie is a Past President of the Minnesota Newspaper Association as well as the Minnesota Newspaper Foundation. In 2016 Julie and her husband, Rollin, were awarded the Al McIntosh Distinguished Service to Journalism award, the highest honor given by the Minnesota Newspaper Association.

She has been active in the National Newspaper Association throughout her career, serving on several committees and as State Chairman. In 2013 she received Emma C. McKinney Award, the highest honor given to a woman publisher by the National Newspaper Association.

Julie has been a consultant and trainer in technology and financial issues for newspapers of all sizes in the Upper Midwest and Canada.

She resides in East Grand Forks, Minnesota, with her husband Rollin.

Lewis Floyd — Senior Associate

South
1314 Gerrits Lndg
Brandon, MS 39047
Phone: (850) 532-9466
Fax: (850) 290-5535
Email: lfloyd@mediamergers.com

Lewis brings more than 35 years in the publishing industry as a circulation director for Thomson, Freedom, Stephens Media as well as with Gannett in various management capacities. He is also currently a business broker in Alabama, Florida, and Mississippi, a position he has held eighteen years in addition to working with Grimes, McGovern, & Associates in Alabama, Arkansas, Kentucky, Louisiana, Mississippi, and Tennessee.

Lewis has past experience that includes self-employment in the retail grocery, specialty advertising, one hour photo, printing and office supply industries. He was President of Midwest Circulation Management Association and a member of the NAA Board in 2005. He has been a guest speaker at Thomson, Gannett, MCMA, SCMA, SCCA and other newspaper circulation industry meetings.

He is active in his Church Ministry as a director on two boards. Lewis is also a Rotarian and Paul Harris Fellow and has served in The United Way Campaign Cabinet and Chamber of Commerce activities.

Lewis graduated from the University of Mississippi with BBA in Marketing / Accounting; and completed continuing education at Thomson, Gannett, and Stephens in Media Management & Marketing Courses.

Lewis is married to Madge and recently moved to Brandon, MS.

David Slavin – Senior Associate

Southeast/South/Mid-Atlantic
59 Manor Square
Sparta, NJ 07871
Phone: (201) 230-0848
Fax: (973) 729-0648
Email: DSlavin@mediamergers.com

David Slavin has responsibility for assignments in the Southeast and Mid-Atlantic regions. Slavin is a media veteran with more than 30 years experience working with daily and weekly newspapers throughout the United States. As founding publisher of the award-winning Woodlands (TX) Villager, he earned significant hands-on management experience for nearly two decades with both group weekly and daily newspapers in the Houston metro market. This success was later continued as publisher of a community newspaper group serving the Northern New Jersey market and as publisher of a state-wide weekly niche publication serving New Jersey’s legal community.

Slavin has acted as a trainer and consultant to a host of newspaper clients including Gannett, Knight-Ridder, Lee Newspapers, Tribune Company, CNHI, Times-Shamrock, Journal Register Company, Washington Post Company, Ottaway and Block Communications.

Active in his community, he has served as President of the Sparta-Area Chamber of Commerce and in elected office as President of the Sparta Board of Education.

Ken Blum – Senior Associate

National Accounts / Midwest
909 N. Crown Hill Rd.
Orrville, OH 44667
Phone: (330) 682-3416
Email: kblum@mediamergers.com

Ken Blum is a national representative for Grimes, McGovern & Associates, handling community newspaper assignments across the country. Ken is well-known in the community newspaper industry as a columnist, speaker and advisor to hometown papers, small and large.

For 30 years, he was the editor and manager of a group of newspapers, shoppers and specialty publications operated by Dix Newspapers in Ohio. In 1997, he launched Butterfly Publications, his own publishing, speaking and advising firm related to the community newspaper industry.

Ken has written two monthly columns for Publishers’ Auxiliary, the official publication of the National Newspaper Association, including Editor’s Notebook and Black Ink, a column that covers all aspects of running a community newspaper that has appeared since 1982. In all, he has written more than 600 columns and newsletters featuring nuts and bolts advice about all areas of the operation of hometown newspapers and specialty publications. Numerous state associations run his columns in their newsletters.

Ken’s book – Black Ink/The Book – was released in late 1998 and became a best-seller in the community newspaper industry. His e-mail newsletter, Black Ink/The Newsletter, goes to more than 3,000 newspapers.

Ken served two terms as president of the Buckeye Press Association and is a recipient of the Ohio Newspaper Association’s highest honor; The President’s Award. He is a past state chairman of the National Newspaper Association and has served on the contest, membership and Publishers’ Auxiliary committees of NNA. Over the years he has been the recipient of dozens of personal state and national awards for his feature stories, columns, editorials and photographs.

Ken has been a guest lecturer at The American Press Institute in Reston, Virginia and speaks at state press association meetings and seminars across the country each year. He also has done work for The United States Information Agency to mentor independent publishers in the former Soviet Union.

As a newspaper advisor and speaker at press meetings, Ken has visited all 50 states, and all but two states at least twice each.

John Szefc — Regional Manager

Northeast/New England/Midwest
35 Ridge Road
Goshen, NY 10924
Phone: (845) 291-7367
Email: jszefc@mediamergers.com

John heads up merger and acquisition activity for the Company in the Northeast including New England. As the only full-time media broker in the region, John has represented daily, weekly and shopper publishers in the sale of properties in every state in the region. He has also been involved it the sale of several national and regional magazines. John is the former president and publisher of the daily (87,000 circulation) Times Herald-Record in Middletown, NY, and former past chairman of the New York Publishers Association. During his 30 year stint at the Times Herald-Record, John worked his way up from sports writer to Editor, later General Manager to Publisher. John has served as Campus Director of the New School for Social Research and as a Vice President of operations for the Care Plus Health Plan.

Larry Grimes – Chairman & Advisor

Gaithersburg, MD
Hilton Head, SC
Phone: (301) 253-5016
Email: lgrimes@mediamergers.com

Larry Grimes served as President and Owner of W.B. Grimes & Company from 1985 until its sale in early 2018. During this time Grimes has personally handled the sale of hundreds of media properties while also directing the firm’s sports M&A advisory practice. Grimes has also provided consulting services to several start-up companies in the sports, film, new media, broadcast and direct mail/coupon industries. Today, Grimes serves as Chairman of Grimes, McGovern & Associates providing ongoing support and guidance to the Company’s media M&A team.
Grimes has considerable appraisal experience within the newspaper and B2B and B2C magazine and information industries. He has served as an expert witness in a variety of valuation cases involving divorce proceedings, change of ownership and estate planning. Grimes has served as a consultant to the Northern Virginia Small Business Development Center in affiliation with the Small Business Administration. He has assisted in the development of numerous business plans and their execution and has served as a Business Plan Reviewer for the National Institutes of Standards and Technology.