Emap, the UK-based radio and magazine group is to sell twenty-five of its business magazines and directories to German media giant Bertelsmann.
The all-cash deal is worth £14.3 million and mainly includes Swiss and German titles covering the automotive, construction and media industries.
In aggregate, the twenty-five publications posted operating profits of £200,000 on sales of £14.2 million in the year to March 30. The London stock market was indifferent to the deal and Emap shares closed marginally down by 1p to £111.40.
News source: CampaignLive (UK)