United Business Media to Sell its Stake in Five
United Business Media to Sell its Stake in Five
LONDON, July 20/PRNewswire-FirstCall/ -- United Business Media ("UBM") (LSE: UBM) today announced that it has agreed to sell its 35.4% shareholding in Channel 5 Television Group Limited ("Five") to the RTL Group ("RTL") for GBP247.6m in cash, equivalent to a valuation of GBP700m for 100 per cent of Five. In 2004 under UK GAAP accounting Five generated GBP288.8m of revenue and GBP19.5m of operating profit. RTL's acquisition of UBM's stake is subject to regulatory approval and is expected to be completed in the Autumn. The disposal of Five is not expected to generate any tax liability for UBM. The proceeds will be retained for reinvestment in UBM's businesses.
UBM CEO, David Levin, said:
"The disposal of Five is another action taken to bring focus to UBM. UBM is a leading global provider of news distribution and specialist information services for the business to business and enthusiast markets. UBM actively brings buyers and sellers together by providing targeted multi-platform marketing solutions - across publications, events and online."
UNITED BUSINESS MEDIA
Background
United Business Media plc (http://www.unitedbusinessmedia.com)
UBM is a market leading global provider of specialist business information services to the technology, healthcare, media & entertainment, property and financial services industries. Geographically revenues are generated in Europe (39%), the US (51%) and in Asia (10%).
Operating Companies:
UBM's publishing division companies operate under the CMP name: CMP Media based in the US, CMP Asia based in Asia, CMPMedica in Healthcare markets in Europe and Asia and CMP Information based in the UK. UBM's news distribution business PR Newswire operates globally, from a US base.
Customers
UBM's market leading - typically ranked number one or two - products serve top blue chip clients in all their end markets including:
Microsoft, Hewlett Packard, IBM, Astra Zeneca, Forest Laboratories, Pfizer/Pharmacia, Merck & Co, GlaxoSmithKline, Novartis, Cisco, Toyo Shinaku, India Trade Promotions Organisation, China Chamber of Commerce, Sinopharm, Incase, Edelman Worldwide, Porter Novelli, Fleishman Hillard, NASA.
Product Categories
Publications
- Over 160 magazines, 110 countries, 4m readers, 4,500 advertisers Events
- Over 300 events, 1.3m visitors, 2,500 exhibitors, from 120 countries Directories
- Over 50 directories, 35,000 readers, in over 40 countries Online
- Over 200 websites, 22 million page impressions
News Distribution
- Over 180,000 messages, in 135 countries, in more than 150 languages
- Over 460,000 journalists, monitoring message boards with over 25m users
Product Brands
CMP Media
www.cmpmedia.com
Information Week, CRN, EE Times, Network Computing, VARBusiness, TechWeb, Consultant Magazine, Game Developer Conference, Embedded Systems Conference, Xchange Conferences, Guitar Player, Health & Beauty America, Seatrade Cruise Shipping Convention,
CMP Information
www.cmpinformation.com
CPHI, Building, Furniture Show, Property Week, Farmer's Guardian, FIE, Ifsec, Health & Safety, Pulse, Daltons Weekly, Trade It, Trader, Opportunities, Private Villas, This Caring Business, ECM
CMPMedica
www.asia.cmpmedica.com
Vidal, Journal du Medicin, Gelbeliste, Vademecum, Medical Observer, Carnets de Sante, MIMS, Kassenarzt, Medex, MedServe
CMP Asia
www.cmpasia.com
Asia Pacific Leather Fair, Cosmoprof Asia, Hong Kong Jewellery and Watch Fair, Health Industry News, Jewellery News Asia, Tokyo Intnl Health Industry Show.
PR Newswire
www.prnnewswire.com
MultiVu, MediaAtlas, eWatch, Profnet, US1
This press release includes statements which are not historical facts and are considered "forward-looking" within the meaning of Section 27 of the Securities Act of 1933, as amended. These forward-looking statements reflect UBM's current views about future events, business and growth strategy and financial performance. These forward-looking statements are identified by their use of terms and phrases such as "believe," "expect," "plan," "anticipate," "on target" and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties and other factors that could cause actual results to differ materially from UBM's expectations. UBM expressly does not undertake any duty to update forward-looking statements. Management does not attempt to update forecasts unless conditions materially change.
Source: United Business Media Plc
Michael Waring, United Business Media, Tel: +44-(0)20-7921-5031, Colin Browne, The Maitland Consultancy, Tel: +44-(0)20-7379-5151
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