Magazine publisher Highbury House Communications has created a joint venture with Internet Advertising in order to publish magazines on the Net. The company says that it has acquired the rights to use certain ‘high-profile’ internet domain names including www.fishing.co.uk, www.gardening.co.uk and www.shooting.co.uk.
Highbury has acquired Internet Advertising, which produces internet publishing software and website management services, for an undisclosed sum. The publisher is planning to launch magazines on each of the sites mentioned and believes that they have the potential to draw in ‘very large numbers of readers’ and a corresponding advertising revenue. Preparations for the online fishing magazine are already underway.
In a statement to the City, Highbury said: “The Directors of Highbury House recognise the increasing importance of the internet as a publishing medium and believe that the formation of the Internet Advertising Joint Venture opens up a wide range of opportunities.”
News of the venture boosted Highbury’s shares by over 30%, closing up 4p yesterday at 17źp.
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