After a lengthy process of soliciting offers to purchase Sterling Publishing, run by investment bank Broadwater & Associates, the targeted completion date of February 29 has come and gone, apparently with no deal in place. People familiar with the bidding process indicate that although there was at least one interested publisher until recently, that company withdrew and there are currently no offers on the table. Sources familiar with the offering cited a number of factors as potential complications to a sale, including a decline in Sterling’s sales through parent company Barnes & Noble’s stores, the separate negotiation of Barnes & […]
