Italy's Ex-Premier Eyes Emap's Consumer Magazines

23 August 2007

LONDON: Emap's £700 million ($1.39bn; €1.03bn) consumer magazine division is being eyed by Italy's controversial former prime minister, Silvio Berlusconi (left).

The approach - a request for a sales memorandum - was made via Italian magazine giant Mondadori, chaired by Berlusconi's daughter Marina and, with 38.5% of the Italian market, by far the most dominant player in its homeland.

The two companies are already business partners: Emap publishes Mondadori's fashion weekly Grazia under licence in the UK; and Mondadori last year bought Emap's flailing French operations.

A bid, if it emerges, would see Mondadori going head-to-head with French publishing titan Lagardère.

Emap, driven by edacious shareholders, is in process of selling-off its three main divisions: consumer magazines, B2B publishing and radio.

As yet, no bidders for the entire company have identified themselves - unsurprising in view of the cash involved and the current terse financial climate.

Data sourced from The Times (UK); additional content by WARC staff