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Emap media empire closer to break-up
Aug 31 2007 by Tony McDonough, Liverpool Daily Post
RADIO City owner Emap took a step nearer to the break-up of its empire yesterday by announcing it was about to send information to potential bidders for one of its divisions.
The group, which has struggled in tougher advertising markets for its consumer magazines, said in July it would consider a possible sale or demerger of parts of the company in a strategic review of the firm.
Private equity firm Apax Partners, United Business Media and Informa are said to be a possible bidders for the firm’s business-to-business division.
Emap said details would be sent out to interested parties “over the next few weeks” and said it was encouraged by the progress of its review.
The company's comments over “further interest” emerging for parts of the business lifted shares in early trading.
Emap, which is also seeking a new chief executive following the resignation of Tom Moloney in May, said it would give a further update on the outcome of the business review at the group’s interim results in November.
Meanwhile, Emap’s shares were higher after the Peterborough-based group said trading since its last update had been “encouraging”.
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