Emap has finished the first round of its break-up auction, and at least five bidders for each division have made it through to the next stage, according to a report.
A report in today’s
Times says that those through to the second round of bidding for the consumer magazines division include Hearst, Providence, Cinven, Quadrangle and Exponent.
Providence, Cinven, Quadrangle and Exponent are all private equity companies. Earlier this year Quadrangle acquired Dennis Publishing’s US titles for £119 million (see Dennis Publishing Sells American Arm).
Companies through to the second round of bidding for the radio division include GCap Media, Global Radio, UTV, Vitruvian Partners and Veronis Suhler Stevenson.
According to the Times report, Vitruvian has enlisted former Chrysalis Radio chief executive Phil Riley to lead its bid.
UBM, Guardian Media Group, Apax, Providence and Cinven are all through to the next round of bidding for Emap’s business-to-business division.
Related Links
