Emap’s new chief executive, Tom Moloney, has dismissed speculation that his appointment will herald a strategic shake-up at the magazine and radio group.
Moloney, who takes up his new position at the end of the month (see
Emap Appoints Moloney As New Chief Executive), insisted that his appointment represents the endorsement of the media group’s current strategy laid down by his successor Robin Miller, who stepped into the role following the departure of Kevin Hand (see
EMAP Chief Resigns As Results Come In Line With Expectations).
He said: “The only change will be to develop my style of management rather than any changes to the company. We have got a certain amount of momentum and we are on a good trajectory.”
Moloney, who joined Emap in 1981, also insisted that the company would remain committed to its radio interests in the period of consolidation that looks likely follow the relaxation of the radio ownership regulations in the forthcoming Communications Bill.
He said: “We have a fantastic radio business and at the corporate level we have a very strong balance sheet. Not withstanding the unknown factor of a new entrant from the US, Emap radio is as strong if not stronger than any other competitor. I expect Emap to be in the radio business in five years time”
However, Maloney remained cautious about the advertising market in 2003 and confirmed that the group had no plans for acquisitions in the UK consumer magazine sector. He said: “We do not see many consumer magazine assets that will be available. The focus of our consumer magazine business in the UK will be on what we have got, with the rest of our investment in our launch activities.”
