Entrepreneur Media to Sell Company

Entrepreneur Media agreed to sell the company to a venture capital firm Austin Ventures and an unidentified Boston-based firm for under $200 million, a source close to the process said.
 
Under longtime owner Peter Shea, Entrepreneur announced earlier this year that it would explore options for the company, including a sale. Elevation Partners, which has a stake in Forbes Media; and Mansueto Ventures, were seen as potential suitors, but the source said neither got in the bidding action.
 
The proposed deal, which is being handled by DeSilva + Phillips, is expected to close in July. Entrepreneur publishes an eponymous magazine with a total paid and verified circ of 609,765; companion Web site; and books aimed at small- to mid-sized businesses.