Ascential to sell heritage publications
On 5 January 2017, Ascential, the business information and events company, announced that 13 ‘heritage’ brands would be separated from the main business with a view to selling them, either individually or together. These heritage titles were part of Ascential’s Plexus division, previously known as Emap.
The sale includes a number of well-known construction industry publications:
- Architects' Journal.
- Architectural Review.
- Construction News.
- Ground Engineering.
- Heating & Ventilation News.
- New Civil Engineer.
- World Architecture Festival.
In a press release, Ascential, which floated on the stock exchange in February 2016, said, “The board now considers a sale of the segment to be highly probable and has therefore reclassified it as a discontinued operation.”
Chief executive Duncan Painter said, "Ascential's growth strategy continues to be to focus its resources and investment on its largest brands and those with the highest growth potential. Our top five products represented 56% of Group revenue and 71% of Adjusted EBITDA in the 12 months to 30 June 2016. This move will further focus our portfolio on our largest market leading products. The Heritage Brands, with large, loyal audience communities, provide an exciting opportunity for new owners."
This would leave Ascential with just one publishing asset, Retail Week.
Proceeds of the sale, will go to Ascential's trend forecasting and events services.
In June 2017, these publications were purchased by Metropolis. Ref https://www.metropolis.co.uk/2017/06/01/metropolis-announces-acquisition-of-11-leading-b2b-brands/
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