Publishing group, Highbury House Communications, has announced that its subsidiary Cumulus Business Media has acquired DMG World Media’s subscription and controlled circulation Power Portfolio of magazines, together with the associated yearbooks.
Highbury House will pay 10% of the annual turnover of the titles over the five-year period from 1 September 2001 to 31 August 2006. This annual payment is capped at £750,000.
Ian Fletcher, executive chairman of Highbury House, said: “This acquisition is a good fit and is in line with our stated policy of making bolt-on acquisitions which complement and strengthen existing magazine portfolios within the Group.”
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