Publishing group, Highbury House Communications, has acquired Millennium Magazines for an initial sum of £1.47 million.
Millennium publishes
Satellite TV Europe, which had generated revenues of £1.4 million and a pre-tax profit of £274,000 in the 11 months ended 31 October 2001. The current monthly circulation is 75,000 copies.
Highbury House may make further payments for the business, depending on its position at completion in January 2002, up to a total of £1.54 million.
Highbury says that the acquisition represents a good bolt-on business of a magazine which is an excellent fit with Highbury House’s What Satellite TV title, strengthening the company’s position in the home entertainment sector.
