30th Jun 2005 09:43
30 June 2005 United Business Media to sell UK Automotive Titles United Business Media plc ("UBM") today announced its intention to sellExchange & Mart and Auto Exchange. This decision is the outcome of a review ofUAP's portfolio, following a recent UBM reorganisation. The review determinedthat these titles would be more valuable to other organisations and thereforethat a sale is in the best interests of UBM shareholders, with proceeds to bereinvested in UBM's core businesses.In 2004, the UAP automotive titles now for sale generated ‚£35.8m of revenue,online page impressions on the Exchange & Mart website averaged well over 5million per month, and Auto Exchange held a 70 per cent share of free pick-upmagazines and achieved a 7 per cent growth in ad sales over 2003.Under the reorganisation in May, responsibility for United AdvertisingPublications ("UAP"), which includes Exchange & Mart and Auto Exchange, waspassed to Bernard Gray, the CEO of CMP Information ("CMPi"). Both CMPi and UAPoperate significant classified advertising businesses and the remaining UAPtitles will become fully integrated with CMPi's operations - the UAP classifiedtitles include Daltons Weekly, Trade-It, Trader, Private Villas, Opportunities,and the recently acquired Publican.UBM has appointed Merrill Lynch to conduct the disposalBernard Gray, CEO of CMPi, said:"CMPi and UAP both have excellent classified advertising businesses. Exchange &Mart is a particularly strong brand, but one which we believe otherorganisations are better placed to develop, particularly around the automotiveclassified sector. We have been approached with regard to these titles,indicating that there is already an encouraging level of interest. Theintegration of the other UAP titles and businesses into the CMPi fold is nowunderway and we are excited by the opportunities that have already becomeapparent."Notes to Editors:CMPiCMP Information is the UK professional media division of United Business Mediaplc.Operating in the UK and Europe, CMPi provides creative professional mediasolutions to around 20 industry sectors. Its products, including magazines,exhibitions, conferences, awards, directories and websites, are targeted atbusiness professionals across a range of markets; these include Building &Property, Medical, Travel, Agriculture and Print.Amongst its well-established brands are industry-leading publicationsincluding, Building, Pulse, Travel Trade Gazette, Farmers Guardian, Music Weekand Chemist & Druggist. CMPi also has a number of leading directories,compendiums and information services such as Barbour Index, Building ProductCompendium, ABI, Benns Media and The Knowledge. It also has a number ofexhibitions recognised as the pre-eminent events in their respective marketsectors. These include CPhI, The Interiors Event, IFSEC and Food IngredientsEurope.CMPi's magazines reach over 660,000 readers directly through subscription andcontrolled circulation. CMPi has a significant classified advertising businessand all of its 40 magazines carry classified sections, most notably those witha strong presence in their markets, such as Building, Building Design, FarmersGuardian and Printing World. Each year, over 330,000 business professionals andmarketers visit its exhibitions each year. In 2004 CMPi delivered revenue of ‚£159.3 million and an operating profit of ‚£21.1m.UAPFrom 22 locations around the UK UAP produces magazines and websites serving adiverse range of trading markets. UAP prints almost 1,000,000 magazines a week- all designed to help businesses and individuals to buy and sell products andservices. UAP's magazines are distributed through newsagents, by post andthrough free pick up in supermarkets and petrol stations - a distributionprocess pioneered by Auto Exchange magazine.UAP's magazines and websites are dedicated primarily to publishingadvertisements but also have editorial. Almost every commercial aspect ofbusiness and private life is covered; from Trade-It's local readers in Bristolselling anything domestic (including the kitchen sink!) to internationaltransactions such as selling a complete business via the internet from Daltonsbusiness.com. And, there are the thousands of cars advertised for saleeach week in Exchange & Mart. In 2004 UAP generated revenue of ‚£58.5m and anoperating profit of ‚£13.2m.For further information, please contact:Michael Waring United Business Media 020 7921 5031 Colin Browne The Maitland Consultancy 020 7379 5151 Bob Wigley Merrill Lynch 020 7995 2194 Richard Taylor Merrill Lynch 020 7995 2052 Kevin J. Smith Merrill Lynch 020 7995 3356 Notes to Editors:United Business Media plc (http://www.unitedbusinessmedia.com) is aleading provider of business information services to the technology,healthcare, media, automotive, financial services and property industries. UBMoffers services in news distribution, publishing and events to customers acrossthe globe. Its brands include PR Newswire, the world's leading corporate newsdistribution service and CMP, the B2B media and exhibition group operating inhigh tech, healthcare, property, entertainment, jewellery & fashion in the US,UK, Asia and Europe.This press release may include statements which are not historical facts andare considered "forward-looking" within the meaning of Section 27 of theSecurities Act of 1933, as amended. Any such forward-looking statements reflectUBM's current views about future events, business and growth strategy andfinancial performance. These forward-looking statements are identified by theiruse of terms 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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