UBM Offloads Magazines To Raise £15 million

United Business Media (UBM) has announced the sale of several publications through its UK and European media busines, CMPi, raising almost £15 million for the firm.

The company’s sale of Industrial Equipment Market and The Trader to Metropolis International have generated £9 million, while its disposal of Trade-It to Friday-Ad Limited raised a further £4 million.

The company has also offloaded two directories, The Knowledge and Benn’s Media, with their sale to Wilmington Group totaling £1.6 million.

Earlier this year UBM appointed Gary Hughes as the new chief executive of CMPi, with a brief to lead the company into its next phase of growth (see UBM Appoints Ex-Emap Director As New CMPi Chief Exec).

UBM: 020 7921 5000: www.unitedbusinessmedia.com