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.
Swedish stars ask fans for £195 pledges on crowd-funding website
voicesJust when you thought you could find a man, get married, and have a baby by the age of 35... it turns out you’re too late, says Grace Dent
sportNapoli 2 Arsenal 0: Gunners must now face either Real Madrid, PSG, Bayern Munich, Atletico Madrid or Barcelona in knock-out stages
musicAs Mariah Carey and Noddy Holder rake in the royalties from their classics, why there hasn't been a decent festive hit for 20 years?
theatreAuthor Daniel Rosenthal recalls the mishaps that almost brought the curtain down on the likes of John Gielgud and Diana Rigg
filmFilm producers sue Warner Bros for $75m over Hobbit films
lifeAs the Royal Mail plans to phase out deliveries on two wheels, it's no wonder posties are in a spin
musicThe 21-year-old beat Ella Eyre and Chlöe Howl to win the honour
lifeFull of the joys and want to help your fellow man? December isn't the time to do it
techLuke Blackall reports on precision engineered prams and babygros that monitor your child 24-7
The ten coldest places on Earth
Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute
David Cameron explains selfie with Obama and Helle Thorning-Schmidt at Mandela Memorial
Krokodil in Mexico? Teenager hospitalised after 'injecting drug into her genitals'
Australia incest case: Filthy and severely deformed children found in remote farming community after generations of inbreeding
- 1 Nelson Mandela memorial: ‘Bogus’ interpreter made mockery of Barack Obama’s tribute
- 2 It’s shameful that our universities have accepted gender segregation under pressure from the most oppressive religious fanatics
- 3 Kenyan politician Mike Sonko left red-faced after photoshopping himself next to Nelson Mandela
- 4 Exeter to Edinburgh and back in a day: How one fresher's lost bet left him facing a 900-mile round trip
- 5 Selfie at funeral: Cameron squeezes in on Obama snap at Mandela memorial
- < Previous
- Next >
iJobs Money & Business
£77099.84 - £96375.26 per annum + Bonus + Benefits : Harrington Starr: My clie...
£45000 - £60000 per annum + Bonus and Package: Harrington Starr: Trading appli...
£50000 - £60000 per annum + BONUS + BENEFITS: Harrington Starr: A leading prov...
£70000 - £90000 per annum + BONUS + BENEFITS: Harrington Starr: A leading mark...