15th Jun 2005 15:09
For immediate release 15 June 2005 United Business Media to acquire leading UK titles: "Theme" magazine and the "Bar Show" exhibition United Business Media today announced an agreement to acquire "Theme" magazineand the "Bar" exhibition from Mondiale Publishing.The assets featured in today's announcement complement the "Publican" group ofpublications and events which UBM acquired in February, and which have now beenfully integrated. Integration of today's titles into UBM's operationalinfrastructure will reduce overheads and generate cross-selling opportunities.The purchase price is ‚£5m million in cash. "Theme" and "Bar Show" generated ‚£2.1m of revenue and ‚£0.6m of EBITA in the year to end of June 2004. Theproposed acquisition should be earnings enhancing in its first twelve monthsand is expected to exceed UBM's hurdle rate of return in its first year. Thetransaction is subject to approval by the OFT.These businesses will report into Bernard Gray, CEO of CMP Information (CMPi)and United Advertising Publications (UAP).Bernard Gray, said"These leading publishing assets will give further breadth and depth to therange of specialists products available to our clients. The financial case isattractive and we have identified operating efficiencies and the opportunity todevelop new and existing revenues streams."UBM CEO David Levin, said"These assets represent another good "bolt on" opportunity for UBM, allowing usto further consolidate our chosen markets. The transaction meets our strictfinancial criteria and moves forward the implementation of our continuingstrategy."For further information, please contact: Michael Waring United Business Media 020 7921 5031 Colin Browne The Maitland Consultancy 020 7379 5151 Notes to Editors: ThemeTheme Magazine is aleading monthly publication for the hospitalitysector, readby buyers, specifiers, designers, architects, brand managers and decisionmakers in the bar and restaurant business.Since its launch in 1995, Theme has held a mirror up to the changing face ofbar and restaurant design throughout the UK, championing innovation,experimentation and excellence in new venues and their operation, whilstfollowing developments in all aspects of the industry.Bar ShowThe Bar Show is aleading event for the hospitalityindustry. It is dedicated tobringing together over 200 suppliers with over 8,381* visitors (*ABC audited)to do business in a vibrant atmosphere full of new products and ideas.It covers every aspect of opening, running or refurbishing a bar. Exhibitorsrange from interior designers and furniture manufacturers to alcoholic drinksbrands and mixers, to the very best in audio-visual technology andentertainment.United Business Media plc (http://www.unitedbusinessmedia.com) is a leadingprovider of business information services to the technology, healthcare, media,automotive, financial services and property industries. UBM offers services innews distribution, publishing and events to customers across the globe. Itsbrands include PR Newswire, the world's leading corporate news distributionservice; and CMP, the B2B media and exhibition group operating in high tech,healthcare, property, entertainment, jewellery & fashion in the US, UK, Asiaand Europe.This press release includes statements which are not historical facts and areconsidered "forward-looking" within the meaning of Section 27 of the SecuritiesAct of 1933, as amended. These forward-looking statements reflect UBM's currentviews about future events, business and growth strategy and financialperformance. These forward-looking statements are identified by their use ofterms and phrases such as "believe," "expect," "plan," "anticipate," "ontarget" and similar expressions identifying forward-looking statements.Investors should not rely on forward-looking statements because they aresubject to a variety of risks, uncertainties and other factors that could causeactual results to differ materially from UBM's expectations. UBM expressly doesnot undertake any duty to update forward-looking statements. Management doesnot attempt to update forecasts unless conditions materially change.ENDUNITED BUSINESS MEDIA PLCRelated Shares:
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