Patchy result for Emap auction

Posted At : 10 December 2007 12:32 | Posted By : Anne Austin
Related Categories: Media owners, Magazines, UK, Business publishing, Radio

Mixed news on the Emap front: it is to sell its consumer magazine business and radio operations to Heinrich Bauer for the sum of GBP1.14 billion, but its business-to-business unit remains unsold. Emap was unhappy with the levels of the bids offered, including from Apax and the GMG; it had been holding out for something around GBP1.3 billion, but failed to achieve it.

Emap's shares fell by nearly 10% on Friday as the market reacted badly to the news.

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