Sky & Telescope Acquired by AAS
June 18, 2019
The American Astronomical Society (AAS), the leading society for professional astronomers, engaged C&E to represent it in pursuing the acquisition of Sky & Telescope. The iconic magazine, founded in 1941, became available in the context of the bankruptcy of its parent company.
C&E advised AAS and its Board throughout the sale process, including deep financial and operating analysis of S&T, valuation development, and tactical advice on the bidding process, including in-person negotiations the night before the live bankruptcy auction was to be held. AAS succeeded in preempting the auction, was approved by the court, and soon closed the transaction.
“We were thrilled to walk away as the owners of a cash-positive business that aligned so centrally with our mission,” commented AAS CEO, Dr. Kevin Marvel remarked.