Haymarket bolsters business line-up with acquisition of Media Week
LONDON - Haymarket, publisher of Brand Republic and Campaign, has confirmed that it is to acquire Media Week from Quantum Media.
The move is the latest disposal by Quantum of its business titles. It recently sold The Publican and other drink-related titles to United Business Media in a deal worth £21m, and is also looking to sell Press Gazette.
Other Quantum titles Haymarket has agreed to acquire are AV, Eye and Packaging News.
Martin Durham, chairman and managing director of Haymarket Business, said: "The opportunity to acquire this portfolio makes sound sense for Haymarket, as it enables us to strengthen our position in several market sectors with good quality publications and events which complement our existing portfolio well."
Quantum's chief executive Neil Thackray said that he "is delighted that the four titles are being acquired by Haymarket, which is extremely well placed to develop the titles and their associated events alongside existing Haymarket titles."
Along with its advertising and marketing-related titles, Haymarket owns publications such as Print Week, What Hi-Fi and Stuff. It also recently acquired the women's magazine Eve from BBC Magazines.
Quantum, based in Croydon, was acquired by ABN Amro in 2000, when it backed a management buyout from owner P&O. It was first put up for sale last November, with a price tag estimated at £30m.
Haymarket is the UK's largest privately owned publisher, with turnover of £175m to December 2003 and nearly 2,000 employees. It publishes titles in 30 countries, and has offices in the US, Germany, India, China, Hong Kong, Singapore, Japan and Australia.
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