Drapers among Ascential titles up for sale as print advertising plummets
Date Posted: Friday 6th January 2017
International business-to-business media company Ascential (formerly Emap), has announced that it has separated 13 heritage brands into a separate operating entity. The Heritage Brands will develop an independent business strategy while new owners are sought. The Heritage Brands are HSJ, MEED, Drapers, Nursing Times, Local Government Chronicle, Construction News, New Civil Engineer, Ground Engineering, H&V News and RAC, Retail Jeweller, Materials Recycling World and the architecture titles including Architects' Journal, The Architectural Review and the associated World Architecture Festival. Each provides essential content across digital, events and print.
Consistent with the evolution of its internal management reporting structure during 2016, the Group will be reporting these Heritage Brands as a separate segment for its 2016 financial year, the results of which are due to be announced on 27 February. As a result of ongoing discussions, the Board now considers a sale of the segment to be highly probable and has therefore reclassified it as a discontinued operation.
The Heritage Brands generated revenue of £63m in 2015 (2014: £64m ) and £26m in H116 (H115: £29m ). As stated at the time of Ascential's interim results on 1 August 2016, print advertising reduced to £9m in the 12 months to 30 June 2016 (or less than 3% of Group revenue). The Heritage Brands accounted for more than 90% of that £9m total.
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Drapers in 'trade & business publications'
Retail Jewellery in 'trade & business publications'