Haymarket Closes Deal On Media Week Purchase

Haymarket Publishing has confirmed the purchase of Media Week, Eye magazine, Packaging News and AV magazine from Quantum Business Media, ending speculation that has mounted ever since the company announced the sale of some of its most lucrative titles last year.

Quantum was put up for sale as a whole in November 2004 with an estimated price tag of £30 million, although the company has since been split up by bidders eager to cherry pick from its wide ranging business portfolio (see Media Press Publisher To Go Under The Hammer).

Confirming completion of discussions with Quantum, Martin Durham, chairman and managing director of Haymarket Business, said: “The opportunity to acquire this portfolio makes sound sense for Haymarket, as it enables us to strengthen our position in several market sectors with good quality publications and events which complement our existing portfolio well.”

Quantum’s chief executive, Neil Thackray, expressed “delight” at the sale, stating: “Haymarket are extremely well placed to develop the titles and their associated events alongside existing Haymarket titles.”

There had been speculation that Haymarket may also purchase Quantum’s Press Gazette, although this now appears not to be the case. However, Media Week’s recently launched Media Week Marketing (see Media Week To Launch Monthly Marketing Supplement) now looks likely to face the axe, as it competes directly with Haymarket’s existing Marketing magazine.

Media Week has seen its circulation decline steadily since a peak of nearly 21,000 in 2000. The title currently commands a total of just over 16,000, down 3.67% year on year in the period Jul 03 to Jun 04.

Haymarket Publishing: 020 8267 5000 www.haymarketgroup.com Media Week: 020 8565 4326 www.mediaweek.co.uk