Press rumours continue to circulate that magazine publisher EMAP is on the verge of selling off some of its titles. The group’s regional titles are tipped to be the first disposal and the most likely buyer is thought to be Newsquest Media Group. Newsquest controls the regional newspapers previously owned by Reed.
City analysts believe that as a result of 23 purchases in the past 5 years EMAP has spread itself too thinly and needs to ease its balance sheet. The disposal would also offset any downturn in advertising which accounts for half of the group’s revenue.
Caledonian Publishing, the Scottish group which owns The Herald, the Glasgow daily, is believed to be planning a float on the stock exchange. It hopes to achieve a capitalisation of over £100m.
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