Emap has launched a review of its structure and portfolio of assets, saying that “all options to maximise shareholder value will be examined, including a possible sale or demerger of some or all of its constituent businesses”.
In a statement released today, the group said that it had already received various unsolicited proposals for parts of the group.
The group added that the search for a new chief executive – following the abrupt departure of Tom Moloney this May – will continue in tandem with the review process (see Emap Chief Executive Leaves).
Citi and Lazard have been retained by Emap to assist on the review.
Earlier this week Emap agreed to sell 50% of its music TV business to Channel 4 (see Channel 4 To Buy 50% Of Emap’s Music TV Business).
Meanwhile, earlier this month it sold its Irish radio stations to Communicorp Group for about £135 million (see Emap Agrees Sale Of Irish Stations).
Emap said that these disposals, coupled with the sale of its French B2B exhibitions, are due to generate over £200 million in cash proceeds.
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