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/
Featured articles and news
What is liquidation and how does it apply to contractors in the construction industry?
Scrutiny is placed on Carillion's controversial 2013 decision to extend subcontractor payment terms to 120 days.
RSHP unveil their involvement in a boundary crossing which will provide a new entry point into Hong Kong.
With PFI currently under the spotlight due to Carillion, this introductory article explains what they are.
Estimates suggest that up to 30,000 small firms could be at risk of non-payment as a result of Carillion's collapse.
Sir Oliver Letwin to lead an independent review into the delays in the delivery of housing.
As Carillion collapses, read our article explaining insolvency in the construction industry.
43,000 jobs at risk as Carillion declares insolvency..
1961 saw the publication of three important books about urban design that remain relevant today.
Next week the planning fee increases by 20% and new fees are introduced.
How the transformative power of BIM and other digital technologies can be used to gain a competitive edge.