Adscene ‘Talking To Bidder’

Adscene, the regional newspaper publisher, is in advanced takeover talks with another regional group, according to today’s Independent.

While it is understood that a number of companies have expressed an interest in bidding for Adscene, serious talks are only taking place with one publisher. Whilst the exact identity of this party is unknown, Northcliffe, Trinity and Johnston Press have all been cited as possibilities.

If Adscene were taken over, this would represent quite a turnaround for the company which, in September last year (subscribers see Adscene In Mood For Expansion) said that it was looking to expand though acquiring another company. Adscene’s last acquisition was in December 1995 when it bought EMAP’s Kent newspaper group for £9.85m (subscribers see Adscene Announces Acquisitions For £30m).

In its last set of financial results, for the six months ended 30 November 1996, Adscene posted an increase in turnover of 28% to £28.8m and profits up 10%.