EMAP Disposes Of Business Titles For £28m

Media group EMAP has agreed the disposal of a number of non-core business magazines and events in a sale worth £28 million. The seven events, in the areas of finance, fishing and freight, and the 13 magazines, including Insurance Age, have been bought by Informa plc.

In the year ended March 1999, the business titles produced combined operating profits of £1.7 million on sales of £12.5 million. The sale of the titles and events follows EMAP’s disposal last month of Insert, its French outdoor advertising group (see EMAP Disposes Of French Outdoor Division). EMAP’s Business Communications division will now concentrate on key markets which are strong in traditional media and which have the potential for new media development, the group said.

Commenting on the disposal, EMAP’s group chief executive, Kevin Hand, says: “As we increasingly focus the Group on specific and larger markets with good potential for growth, we are rationalising the portfolio of our media businesses. We have successfully sold our interest in Metal Bulletin, Insert and now these 20 businesses titles and events in the space of two months. The proceeds from these and other recent disposals will support new and exciting opportunities within the Group.”

Separately, EMAP last week confirmed that its Total Sport magazine is to close (see Emap’s Total Sport To Close).

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