Fri, 06 Jan 2017 | BUSINESS SALE
Fashion industry mag Drapers and nursing profession title Nursing Times are among a stable of magazines put on the market by their owner Ascential.
The publisher, once better-known as Emap, is to offload 13 titles as it focuses on bigger brands. It will keep just one print asset, Retail Week.
In a statement Ascential said it had separated a group of ‘heritage brands’ into a separate business while new buyers are sought.
The titles up for sale include Drapers, Nursing Times, Construction News, Heating and Ventilation News, Local Government Chronicle, New Civil Engineer and the Architectural Review.
In total the 13 titles made £63 million in revenue last year and about £10 million in operating profit.
Duncan Painter, Ascential chief executive officer, 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 per cent of group revenue and 71 per cent 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.”
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