United News & Media has announced the sale of Miller Freeman USA, part of its US trade show and professional publishing arm, to Dutch publishing group VNU. The sale, worth £433m, is part of the group’s ongoing disposal of non-core assets, agreed on announcement of its proposed merger with Carlton Communications last year (see Carlton/UNM Merged Group Plans For The Future).
As the timetable to United’s future begins (see Carlton Considers Dropping Out As Countdown To Two-Way ITV Merger Begins) its shareholders will welcome a focus on its core assets as it moves towards further consolidation within the ITV sector. The trade and industry secretary last week agreed to allow the merger between United and Carlton Communications on condition that it dispose of its Meridian franchise (see DTI Clears Way For ITV Merger).
Clive Hollick, chief executive of United, said: “United’s powerful positions in UK television, the US high-tech market and our rapidly growing online businesses will be powerful engines for growth, while our disposal programme is realising great value for shareholders.”
United News & Media: 020 7921 5000
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