Business Publisher Hoover’s Files for IPO

Hoover’s Inc., publisher of an online guide featuring data and profiles on more than 14,000 companies, said it plans an initial public offering worth up to $48.9 million. The Austin-based company said it had not determined the number of shares to be issued. In its filing with the Securities and Exchange Commission, Hoover’s said it would use the money raised from the offering to expand marketing, including a $10-million advertising campaign. Some of the proceeds may go toward possible acquisitions and general corporate purposes, it said. Media General Inc. holds a 31.3% stake in Hoover’s and Time Warner Inc.’s Warner Books Inc. holds a 35.8% stake before the IPO. J.P. Morgan Securities Inc. and Lehman Brothers Holdings Inc. are joint lead managers for the IPO.