United News and Media (UNM) has agreed to sell UAP Inc. to Trader Publishing for a cash sum of $520m. This brings the total raised by UNM’s divestment programme to $840m.
UAP Inc. is free-to-the-public magazine and online advertising business specialising in the real estate rental and sale, motoring and parenting markets across the US.
UNM unveiled the divestment programme at the same time it launched a merger proposal for Carlton Communications (see Carlton And United News & Media Set For £7.8bn Merger). The proceeds are destined to reduce group debt and finance the company’s £370m new media investment plans.
United News and Media: 020 7921 5000
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