Media In The City: Emap Sells Magazine And Radio Arms To H Bauer

Emap was once again the big story last week, as it sold its magazine and radio divisions to German publishing group H Bauer.

At the start of the week it was reported that private equity firm Apax was the favourite to land the group’s business-to-business arm (Full Story).

However, by Friday we found that this was not true, with Emap keeping hold of it and instead selling off its magazine and radio divisions (Full Story).

Alun Cathcart, Emap executive chairman, said: “Emap will now be a focused B2B company with strong market positions, strong cash flow and a proven management team and track record in delivering value and growth.”

The sale was made following NatMags’ announcement that it had pulled out of the bidding (Full Story).

In other news, Bertelsmann, owner of book publisher Random House, approached its subsidiary RTL about buying the remaining 10% of shares it does not own (Full Story).

Bertelsmann has been gradually increasing its stake in RTL, owner of Five and one of the largest producers of TV outside of the US through its subsidiary Fremantle Media.

ITV acquired independent producer 12 Yard for £26 million. A further payment of up to £9 million may be made in 2011, part of which is contingent on profit performance over a three-year period (Full Story).

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