Informa pays pounds 28m cash for 13 business magazines from Emap
Tuesday 09 November 1999
The titles being acquired by Informa range from monthly business magazines Insurance Age and Containerisation International to weekly publications International Freighting Weekly and Fishing News. The acquisition, expected to be earnings-enhancing in the first full year, includes seven related exhibitions and events.
"The Emap titles are a good complement to our existing portfolio," said David Gilbertson, Informa's chief executive. "They will fit well into the areas we serve, without duplicating anything."
The acquisition also includes Liner Shipping Network, an electronic information service distributed to subscribers over the Internet. It provides time- critical news and information about international container vessels and the freight industry.
In the year to March the acquired businesses generated pounds 2.8m in operating profit before attributed overheads, on sales of pounds 12.5m. The net assets being sold total pounds 200,000.
"As we focus the group on specific and larger markets with potential for growth, we are rationalising the portfolio of our media businesses," said Kevin Hand, Emap's chief executive.
In July, Emap said it would increase new product investment to pounds 30m, including pounds 10m for online sites. Its near-100 websites, grouped in Emap Digital, are generating annual revenue of about pounds 10m. In September, Emap sold a 19 per cent interest in Metal Bulletin, the business publishing information group, for pounds 32.6m. Last month, it disposed of Insert, a French outdoor advertising subsidiary that was acquired in 1994 when Emap bought Editions Mondiales, a French consumer magazine publisher.
After hitting 12-month lows at 730p last month, Emap stock has rallied. Although it closed yesterday up 2p at 822p, the shares are well below the all-time high of 1,418p recorded in March.
Informa has made several bolt-on acquisitions since it was formed last year via the merger of LLP Group and IBC Group, a publishing, conference and training provider. Mr Gilbertson is looking at further acquisitions and is prepared to spend upwards of pounds 100m. Informa stock closed at an all-time high, up 4.5p to 431p.
Is your name now 'banned' in Saudi Arabia?
Exclusive: World’s most pristine waters are polluted by US Navy human waste
Croatia's second city to close 'worst zoo in the world' after reports of 'nightmare' conditions and 'depressed' animals
Missing Malaysia Airlines Flight MH370: Did jetliner fly into area controlled by Taliban? Net widens after claims final satellite signal could have been sent from the ground
Missing Malaysia Airlines Flight MH370 Q&A by Simon Calder: How far could it have travelled? Who was responsible and what would their plans be? And how can a plane just vanish?
Katie Hopkins continues campaign to become Britain's most hated talking head with poorly timed Bob Crow tweet
Ukip and Nigel Farage on course for remarkable victory in European elections
No EU referendum under Labour: Ed Miliband to reveal that vote on membership is ‘unlikely’ in next Parliament if party wins power
Tony Benn was entirely ineffectual - and usually wrong
The rise of Ukip: Study warns Labour that Eurosceptic party's electoral base now 'more working class than any of the main parties'
Europeans have ‘got whiter’ due to natural selection in past 5,000 years, scientists say
- 1 Is your name now 'banned' in Saudi Arabia?
- 2 Gender-specific books demean all our children. So the Independent on Sunday will no longer review anything marketed to exclude either sex
- 3 Missing Malaysia Airlines Flight MH370 Q&A by Simon Calder: How far could it have travelled? Who was responsible and what would their plans be? And how can a plane just vanish?
- 4 California man Christopher Viatafa surrenders to police after googling own name and discovering himself listed as ‘most wanted’
- 5 'Missing Malaysia Airlines Flight MH370 plane found in Bermuda Triangle!' Viral Facebook links are profiting hackers
iJobs Money & Business
£35000 - £43000 per annum + Bonus and Benefits: Harrington Starr: A global lea...
£50000 - £60000 per annum: Harrington Starr: Linux Systems Administrator - UNI...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...