29th Nov 2007 07:02
Trinity Mirror PLC29 November 2007 29 November, 2007 Trinity Mirror expands property portfolio Trinity Mirror plc is pleased to announce the acquisition of Globespan MediaLtd, publisher of Homesoverseas.co.uk and Showhouse.co.uk and their magazinecounterparts, together with What House online and the What House Awards. Globespan was acquired for an initial consideration of £0.9 million and adeferred consideration of up to £5 million wholly conditional on the achievementof specified operating profit targets over the next 30 months. Globespan isexpected to generate revenues of at least £4 million in its first year ofownership. Globespan will be integrated with Trinity Mirror's, Smart Media Services, arapidly growing online property business with both general and specialistambitions. Through Globespan the business will now enjoy a significant positionin two high value specialist niches. Homes Overseas is a consumer brand which has served this market since 1965 andis well positioned to take advantage of the increasing amount of buyer researchnow carried out on line. Show House and the accompanying What House Awards are business to businessbrands which allow Trinity Mirror to better address the demand for improvedonline services and marketing in this important sector. Sly Bailey, Chief Executive of Trinity Mirror plc said: "Globespan is a great addition to our online presence. The Homes Overseas andWhat House brands perfectly complement our existing portfolio of successfulonline property businesses that include smartnewhomes.com andemail4property.co.uk. "This acquisition demonstrates how Trinity Mirror continues to segment and layerits markets by both geography and market sector. Globespan strengthens ourregional network of over 80 local property sites and enables us to achievefaster growth of market share in the online property sector" Further enquiries: Trinity MirrorNick Fullagar, Director Corporate Communications 020 7510 3000 MaitlandNeil Bennett 020 7379 5151 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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