Moloney Gets Back To Business At Emap
Emap’s new chief executive, Tom Moloney, has dismissed assertions that Emap should divest itself from its business to business magazines, claiming they are the “unpolished jewel in Emap’s crown.”
Moloney told the Financial Times: “People label Emap a consumer magazine company but business to business is our strongest business with market leading positions and very high margins.”
Commentators had previously focused on the hole left in Emap’s portfolio by the loss of the fashion-heavyweight Elle titles following the ending of its joint ventures with Hachette (see Red’s Future Uncertain After Emap And Hachette Split). Media buyers claimed that the prestige of the Elle brand brought high end fashion advertisers to a host of Emap titles.
Moloney recognises the loss of fashion kudos, commenting: “It would be ludicrous of me to deny that Elle was a disappointing loss to our sales portfolio and if we can sensibly build new brands we will.”
It is likely there will be some acquisitions and new launches to beef up Emap’s reduced portfolio. £20 million is earmarked for new product development in 2003. Moloney is hoping to launch at least one consumer magazine this year which is likely to be celebrity focused, despite the fact it recently launched celebrity title, Closer (see Emap Gets Closer To Women’s Market With New Launch).
However, he claims there are no immediate plans for a new fashion title, but Pop, the biannual fashion magazine, which is known for its cutting edge photography and design, may become a monthly title.
Moloney appears less likely to expand Emap’s radio portfolio, and according to the FT is sceptical of claims that the liberalising elements of the Communications Bill will lead to widespread mergers and acquisitions.
It may not be glamorous in Peterborough, but according to Moloney, Emap’s healthcare, local government and construction magazines have held up well, despite the economic downturn, and look set to be rewarded.
Emap: 01733 568 900 www.emap.co.uk
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