Dirks, Van Essen & Murray

What Dirks, Van Essen & Murray does

Dirks, Van Essen & April (formerly Dirks, Van Essen & Murray) is a privately-held M&A advisory firm founded in 1980 by Lee E. Dirks and headquartered in Santa Fe, New Mexico. The firm specializes exclusively in the sale, acquisition, and valuation of media businesses — primarily community and regional daily and weekly newspapers — representing family-owned sellers, regional media groups, individual owners planning exits, institutional investors, and strategic buyers across all 50 U.S. states. Over more than four decades it has advised on 800+ transactions totaling $12.5B+ in cumulative transaction value, and maintains a proprietary transaction database described as the largest in the newspaper industry, covering nearly 3,000 deals across four decades.

The firm's core service offering comprises four modules: Seller Representation, Buyer Representation, Appraisals (IRS-standard valuations), and Operational Consulting. The underlying technology is the proprietary transaction database used for benchmarking, comparable-sales analysis, and market intelligence; the firm does not operate a software platform. Distribution is entirely direct, with engagements initiated through confidential consultations that often begin years before a transaction, and buyer outreach conducted via a curated, vetted network rather than public listings. The firm employs 1-10 professionals, with current principals Sara April (President since 2020), Francis Wick (Partner since late 2025), and advisors including Owen Van Essen; Kelli Bultena serves as Senior Associate. Pricing is quote-based and not publicly disclosed.

Revenue is generated entirely through professional-services fees — success-based advisory fees for M&A representation, fixed fees for appraisals, and project-based fees for consulting. The go-to-market motion is relationship-driven and referral-based, supported by content marketing (newsletter, market updates, press releases) that positions the firm as the authoritative voice on newspaper M&A activity. The firm has no external investment or parent ownership and has remained an independent partnership through multiple leadership transitions, most recently the 2020 renaming upon Phil Murray's retirement and Sara April's elevation to partner.

Name

Dirks, Van Essen & Murray

Legal name

Dirks, Van Essen & April

Website

https://dirksvanessen.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1–10 employees

Short description

Dirks, Van Essen & April is a privately-held M&A advisory firm founded in 1980, specializing in the sale, acquisition, and valuation of U.S. community and regional newspapers, serving family-owned sellers, regional media groups, and institutional investors nationwide.

Ownership category

akta.pro rank

Product category

Media M&A Advisory

akta.pro primary industry

Industry-Specialist / Sector-Focused M&A Advisory (FSAEAGAJ)

akta.pro secondary industry

Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)

Keywords

• Media M&A advisory
• Newspaper brokerage
• Business valuations
• Media consulting
• Newspaper transactions

Headquarters

HQ city

Santa Fe

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Seller Representation: Advisory fees for representing sellers in media M&A transactions. The firm guides sellers through the entire process from initial consultation through closing, including valuation, marketing, offer review, negotiation, and transaction support.
2. Buyer Representation: Advisory fees for representing buyers in media acquisitions. Services include strategy discussion, opportunity screening, financial analysis, offer strategy, and negotiation through closing.
3. Business Appraisals: Data-driven valuations for transactions, estate planning, financing, and ownership decisions. Appraisals are delivered as comprehensive reports meeting IRS standards and backed by real transaction data.
4. Strategic Consulting: Operational and strategic advisory services for media business owners including performance improvement, succession planning, and transaction preparation. Deliverables include written advisory reports with prioritized recommendations.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels6 records

Core offering

Dirks, Van Essen & Murray (operating as Dirks, Van Essen & April) is a U.S. media M&A advisory firm that represents buyers and sellers in the sale, acquisition, and valuation of daily and weekly newspapers and related media businesses. The firm provides four core services — Seller Representation, Buyer Representation, Business Appraisals, and Operational Consulting — backed by a proprietary transaction database of 800+ benchmarks used to assess business value, comparable sales, and market conditions.

Product overview

Dirks, Van Essen & April operates as a unified advisory platform offering four core service modules for the media M&A industry: Seller Representation, Buyer Representation, Appraisals, and Operational Consulting. The services are supported by a proprietary transaction database serving as the analytical foundation for valuations and market intelligence. The firm also provides supplementary content products including a newsletter and market update reports. There is no modular software platform—the offering is professional services-based.

Differentiator

Problem solved

Functional benefit

Products and services

• Seller Representation
• Buyer Representation Buy-side M&A advisory for media acquisitions, supporting strategic acquirers, private equity and family offices, and existing media owners pursuing add-on or bolt-on acquisitions. Services include strategy discussion, opportunity screening, financial analysis, offer strategy, and negotiation through closing, leveraging proprietary deal flow and sector knowledge.
• Appraisals Data-driven business valuation engagements for media companies, intended for use in transactions, estate planning, financing, and strategic ownership decisions. Deliverables are comprehensive written reports meeting IRS standards, built on the firm's proprietary transaction database of 800+ benchmarks and multiple valuation methodologies.
• Operational Consulting Strategic and operational advisory engagements for media business owners, covering discovery, operational review, prioritized recommendations, implementation support, and preparation for a future transaction. Deliverables include written advisory reports with prioritized recommendations.

Quantifiable outcome

• 800+ transactions closed with $12.5B+ in total value advised
• +2 more outcomes

Named customers4 records

Segments8 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators7 records

Recent moves2 records

Expansion highlights5 records

Direct peers

• New England Media Group (Cribb Foley & Co.): Boutique investment bank focused on the media industry including newspapers, broadcast, and digital. Provides M&A advisory and valuations for media owners, overlapping with DV&A on transaction mandates.
• TopFire Media: Media-focused M&A advisory firm specializing in newspaper and digital media transactions. Closely comparable in service mix (sell-side, buy-side, valuations) and target client base of family-owned and small group publishers.
• Media Services Group (MSA Worldwide): One of the closest direct competitors to DV&A, MSA Worldwide provides M&A advisory, valuations, and consulting services to media companies including newspapers, broadcast, cable, and digital. It competes for the same seller/buyer mandates in the U.S. media M&A market.
• W.B. Grimes & Company: A specialized M&A advisory firm focused on newspapers and other media properties, offering seller representation, buyer representation, and appraisals. Directly competes with DV&A in newspaper brokerage mandates.
• Kalil & Company: Boutique M&A and business brokerage firm focused on media, including newspapers, broadcast, and outdoor advertising. Competes for similar seller mandates and uses comparable relationship-driven go-to-market.

Emerging players

• Results Investment Partners: An emerging media-focused investment bank and advisory firm serving smaller media operators and digital-first news outlets. Partial overlap with DV&A as the digital transformation of the newspaper industry changes buyer profiles.

Broad incumbents

• Generational Equity: Large M&A advisory firm with a dedicated media practice and proprietary transaction database. While broader in industry coverage than DV&A, it directly competes for media mandates and benefits from similar intermediation economics.
• Corporate Finance Associates (CFA): A network of middle-market M&A advisory firms with offices across the U.S. that occasionally services media transactions. A broader incumbent that overlaps with DV&A on valuations and sell-side mandates in the lower-middle market.
• Berkshire Capital Securities: Investment bank focused on media, communications, and technology with M&A advisory, valuations, and capital raising. A broader incumbent that occasionally competes with DV&A on newspaper and broadcast mandates.

Others

• Eaton Partners (Business Development Company practice): Financial advisor and capital placement firm with media expertise, often on the buy-side providing fairness opinions and valuations adjacent to M&A advisory. Connected ecosystem participant rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Dirks, Van Essen & Murray