30th Sep 2005 09:31
30th September 2005 Daily Mail and General Trust plc (`DMGT') Acquisition of iMedia Communications dmg world media, the exhibitions division of DMGT, has announced theacquisition of iMedia Communications Inc. ("iMedia"). iMedia publishes theiMedia Connection website and newsletters and produces five industry summits ayear aimed at the digital marketing industry. The next summit will be held from4th to 7th December, 2005 in La Quinta, California.This transaction follows dmg world media's purchase in January this year of theAd:Tech series of exhibitions, also for the digital marketing industry.The total cost is estimated to be US$12.0 million (‚£6.8 million), including aninitial payment of $6.15 million (‚£3.4 million) and a further payment in 2007,based on the performance of the business in 2006.We expect the acquisition to be earnings enhancing before amortisation in thecoming year.Enquiries to:Ben Brougham, Business Development Director, dmg world media 020 8515 2163Peter Williams, Finance Director, DMGT 020 7938 6631 Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594ENDDAILY MAIL & GENERAL TRUST PLCRelated Shares:
DMGT.L