8th Dec 2008 09:00
UBM reorganises Commonwealth into two separate businesses to serve the global trade and aviation communities
Creation of UBM Global Trade and UBM Aviation follows UBM's established reorganisation model
United Business Media Limited today announces that it will reorganise its Commonwealth Business Media division into two separate market-focused businesses, with effect from January 2009. This reorganisation follows the model established earlier this year by UBM's successful reorganisation of CMP Technology, its US-based technology media company, and of CMP Information, its UK-based media business.
The two new businesses will be established as follows:
* UBM Global Trade will focus on serving professional communities engaged in commercial sea, rail and road transportation and logistics worldwide. UBM Global Trade will generate around [70]% of its revenues from subscription-based workflow business support information and analysis products such as PIERS (www.piers.com), the market-leading provider of business intelligence on international trade. UBM Global Trade's product portfolio will also include leading online, event and print brands such as the Journal of Commerce (www.joc.com). UBM Global Trade's pro forma revenues for H1 2008 were $28m. * UBM Aviation will focus on serving the global commercial aviation industry, principally with its industry-standard online subscription-based information products and services which generate more than 85% of the business's pro forma revenues. UBM Aviation's portfolio includes products from OAG (Official Airlines Guide, www.oagcorporate.com), the world's leading provider of global flight information for the passenger aviation, air cargo logistics and business travel markets, as well as aviation industry intelligence solutions covering global aircraft fleets, capacity supply, traffic demand and financial / operating performance (see www.oagaviation.com). UBM Aviation's pro forma revenues for H1 2008 were $29m.
The strategic decision to reorganise Commonwealth has been led by Alan Glass, Commonwealth's President and Chief Executive Officer. Alan Glass has been associated with Commonwealth's businesses for almost 30 years and led Commonwealth's sale to UBM in July 2006. Since joining UBM, Alan Glass has overseen Commonwealth's successful rapid development, accelerating its evolution towards subscription-based workflow and information products, doubling the size of the business principally by means of the acquisition and integration of a number of complementary businesses, including OAG and AIG. Having taken a leading role in the formation of UBM Global Trade and UBM Aviation, Alan Glass will leave UBM to pursue other interests. He will however, retain an advisory role to David Levin, UBM's Chief Executive Officer. The new businesses will report to David Levin until Chief Executive Officers have been appointed. Pete Spinelli, currently acting Chief Financial Officer of Commonwealth, has been appointed as Chief Financial Officer of UBM Global Trade. Richard Kerr, currently Head of UBM Group Development, has been appointed as Chief Financial Officer of UBM Aviation.
Alan Glass, President & Chief Executive Officer of Commonwealth Business Media said:
"I am very proud to have led Commonwealth Business Media and its outstanding staff to a point where it is a world-leading provider of must-have, subscription-based information and analysis for the Global Trade and Aviation markets. Our community-focused strategy makes the logic of reorganising Commonwealth into UBM Global Trade and UBM Aviation compelling - we are creating two fast-moving, innovative businesses that can get close to their markets and focus on providing the products and services that their respective communities of professionals need in order to do their jobs. I look forward to celebrating our new businesses' further success in the years to come."
David Levin, UBM's Chief Executive Officer said:
"The reorganisation of Commonwealth follows our successful, positive experience of similar reorganisations of our CMP Technology and CMP Information businesses earlier in the year. Today's changes are about creating independent, focused businesses that have the freedom to get closer to their audiences and customers, enabling them to develop the right products and services for the communities they serve. At the same time each business will also have access to UBM's financial resources and to UBM's global operational infrastructure to support their continued international expansion."
"I want to pay tribute to Alan Glass's vision, commitment and hard work that has ensured our businesses are well positioned to take these next steps in their evolution. I wish Alan the very best for his future and look forward to benefiting from his experience and expertise."
Ends ContactsMedia Peter Bancroft Director of Communications E-mail [email protected] Direct telephone +44 20 7921 5961 Chris Barrie Citigate Dewe Rogerson E-mail [email protected] Direct telephone +44 20 7282 2943 Mobile +44 796 872 72 89 Analysts/Investors Email [email protected] Direct telephone +44 20 7921 5095 Nigel Wilson +44 20 7921 5019 Andrew Crow +44 20 7921 5940 Notes to Editors
1. About United Business Media Limited
United Business Media Limited is a leading global business media company. We inform markets and bring the world's buyers and sellers together at events, online, in print, and with the information they need to do business successfully. We focus on serving professional commercial communities, from doctors to game developers, from journalists to jewellery traders, from farmers to pharmacists around the world. Our 6,500 staff in more than 30 countries are organised into specialist teams that serve these communities, helping them to do business and their markets to work effectively and efficiently. For more information, go to www.unitedbusinessmedia.com.
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