H Bauer may join race for Emap magazines and radio

by Daniel Farey-Jones Brand Republic 04-Dec-07, 11:00

LONDON - H Bauer, publisher of Take A Break and TV Choice, is considering making a bid for Emap's consumer magazine and radio divisions, according to a report.

The Times has reported that the UK company, 96%-owned by German parent company H Bauer, has enquired about both Emap divisions.

Nobody at H Bauer was available to comment on the report, which came the day after the deadline for second-round bids in the auction of Emap's three divisions.

Bauer would be the second trade bidder for Emap's consumer magazines division after Hearst, which is viewed as having a good chance of success.

Hearst, which owns Cosmopolitan and Esquire, has been working with private equity firm Exponent. It is competing with other private equity firms such as Quadrangle, which owns a number of Dennis Publishing's former US titles, including music magazine media Blender and Maxim, and TPG.

Bauer's UK business includes three weeklies aimed at older women and three TV listings titles, as well as a portfolio of puzzle magazines. While it is much smaller than Emap in the UK, its German parent owns around 40 magazines and, according to The Times, had a 2005 turnover of €1.76bn (£1.24bn).

Emap is hoping for bids for its consumer magazine division in the range of £700m, although it is understood it has not proved as attractive as the other divisions.

The £1.3bn-valued business-to-business division has attracted interest from three pairs of bidders: Apax and Guardian Media Group (the only non-private equity bidder); Providence and Permira; and Candover and Cinven.

The £400m-valued radio division is being contested by Global Radio and private equity firms Vitruvian and Veronis Suhler Stevenson.