EMAP Disposes Of French Outdoor Division

Media group EMAP has announced the disposal of French outdoor advertising company, Insert. EMAP described the company, which is based in St Denis, as a non-core subsidiary of EMAP France. Insert was acquired by EMAP when it purchased the magazine business Editions Mondiales in 1994.

Since the acquisition EMAP has restructured Insert and improved its revenues and operating profits. Insert is being sold to a private company for an undisclosed sum, although EMAP intends to retain a close commercial relationship with the outdoor company. As of 31 March this year, Insert held net assets of FF10.5 million.

Commenting on the disposal, Arnaud de Puyfontaine, directeur general of EMAP France, said: “We have developed Insert in the last five years and improved its position in the French poster market. Having achieved this and in an industry which is currently consolidating, we believe now is an opportune time to sell the business. The disposal proceeds will be used to develop our other media interests within the Group and to reduce debt.”

Earlier in the week EMAP delivered a fairly positive trading statement (see EMAP Anticipates Second Half Revenue Growth), but investors were not convinced as stock price immediately began to fall (see Sharewatch).

EMAP: 01733 568 900