Trinity Mirror Agrees To Sell Magazines And Exhibitions Business

Trinity Mirror has agreed to sell its magazines and exhibitions business Inside Communications Ltd (‘ICL’) for £41.5m.

ICL is being acquired by ICL’s existing management team and Ocean Media Ltd, a company set up for the transaction that is backed by private equity firm, Ion Equity.

ICL publishes trade and consumer magazines and runs exhibitions including one of the best-attended consumer shows in the UK, the National Boat, Caravan and Outdoor Show in the NEC.

Sly Bailey, Chief Executive of Trinity Mirror, said: “Inside Communications is a good business with a strong portfolio of magazine titles and exhibitions.

“However, these assets are not core to our portfolio, and we agreed with the ICL management team that they would have greater scope for development under their direct ownership.”

Ulric Kenny, Ion Equity director and interim chairman of Ocean Media Limited, said: “ICL’s market-leading titles and strong track record, together with its ambitious management team, represent an excellent foundation for growth. We are very pleased to have the opportunity to support the company in its next phase of development.”

Trinity Mirror: 020 7293 3000www.trinitymirror.com