Emap Launches Structural Review

Emap has launched a review of its structure and assets, saying that it will consider a possible sale or demerger of some of its businesses.

It added that it has recently received unsolicited proposals for parts of the group.

The group said that the search for a new chief executive, following the departure of Tom Moloney in May (see Emap Chief Executive Quits), will continue in tandem with the review process.

The banks 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 Half Of Emap Music TV), whilst earlier this month it sold its Irish radio stations to Communicorp Group for about £135 million.

In a statement, the group said these disposals, alongside the sale of its French B2B exhibitions business, are due to generate over £200 million in cash proceeds.

Emap: 01733 568 900 www.emap.co.uk