Publishing group, Bertelsmann AG Gruner+Jahr AG & Co KG, is reported to be considering buying the French arm of Emap’s magazine business.
According to reports in the German newspaper,
Handelsblatt, Bernd Kundrun, managing director of Gruner+Jahr, said: “We are open for acquisitions in France. Like all the others, we are looking at the magazines which Emap has put up for sale.”
Emap announced plans to sell its French operations at the end of February, saying it would return the cash generated to shareholders (see Emap To Sell French Operations).
According to Emap, the decision follows a review of the group’s strategic investment priorities. The sale is expected to be completed during the first half of 2006-2007.
The publishing body recently revealed that it is trading in line with full-expectations, outperforming the market in the group’s consumer magazines and radio division (see Emap Outperforms Consumer Magazine and Radio Market).
The publishing body expects full-year revenues to rise by 8%, helped by a 5% increase in underlying revenues from UK consumer magazines advertising.
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