Private company newsletter business multiple

What’s a fair EBITDA multiple for the newsletter (e-newsletter) business these days? One of you BSDs in IB/ER has got to know this.

This particular company issues a regular e-newsletter for those in a specific commodity space.

<0.5mm subscribers: $0

0.5-2mm subscribers: 2x EBITDA

2mm-5mm: 3-5x

5mm+: 5x

source: I made it up

An e-newsletter business has such low barriers to entry and a fickle customer with low switching costs. I wouldn’t pay much for it.

Where can I find this info?

Business valuation databases (pratt stats, mergerstat, iba, bizcomps, done deals) will have records of past private transactions reported from business brokers. If it’s anywhere it will be there.

Could find it on capiq or bloomberg

^ Respect. Just a general range would be all I need. This is like a Kiplinger for commodities. It’s a pet project I’ve assumed and need to find a valuation. Feel free to private message me or email me cfavsmba at gmail.

Sorry dude, but your Oxypowder newsletter is worthless

^ Thanks captain obvious. This is not for that.

Can someone hook a brotha up?