Emap looks to £100m magazine sell-off
Publishing and events business Emap is understood to have lined up corporate adviser Hawkpoint to sell its trade magazines business, which includes industry-leading titles Nursing Times and Broadcast.
Emap, which is owned by private equity group Apax and Guardian Media Group, met a number of advisers recently over a role to review the business, but Hawkpoint is chief executive Duncan Painter's preferred choice. It is believed that the sale of Emap Inform is the favoured option to reinvigorate the business, as trade titles and their award ceremonies have suffered badly during the downturn.
An industry source said the sale of Inform was likely to take place later this year, though other figures in the media sector struggled to see who would buy business-to-business magazines in the current environment.
Few think that Inform, which also owns award-winning magazines such as Retail Week and Construction News, would be able to fetch much more than £100m. This would be considered something of a disappointment given that Apax and GMG paid £1bn for Emap only four years ago. However, both companies have had to write-down the value of their investments since that deal was struck.
An advisory source said: "Hawkpoint is talking to Emap. They are considered to be the favourites."
If Emap did go through with the sale, it would still have a number of valuable assets, including a well-regarded exhibitions business.
- 1 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 2 Joan Rivers: 'Palestinians deserve to be dead'
- 3 Lady al-Qa’ida: On the trail of Dr Aafia Siddiqui, the world’s most wanted prisoner
- 4 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 5 It's not just the savagery of Isis that is shocking – its weaponry is too
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Joan Rivers: 'Palestinians deserve to be dead'
Sir Paul McCartney makes his stance on Scottish independence known
PM sets out tough new anti-terror measures in response to heightened threat
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
With Douglas Carswell joining Ukip, my party has taken another giant step forward
- < Previous
- Next >
iJobs Money & Business
Highly Attractive Salary: Austen Lloyd: BRISTOL - This is a very unusual law c...
£35000 per annum: Harrington Starr: Network Engineer (CCNP, CCNA, Linux, OSPF,...
£50000 per annum: Harrington Starr: DevOps Engineer (Systems Administration, L...
£60000 - £70000 per annum: Harrington Starr: A prestigious leading professiona...