A start-up team comprising two former Miller Freeman managing
directors is rumoured to have joined the bidding for the package of
titles Emap is to sell off.
The business magazines for sale include Media Week and UK Press
The breakaway team is understood to consist of Roger Michael, former
managing director of Miller Freeman Technical, and Stan Arnold,
ex-managing director of Miller Freeman Publishers, who were ousted in a
boardroom coup last October.
Financial backing from City sources, believed to be the venture
capitalist, 3i, will help the team’s struggle against its apparent rival
in the bid, Quantum Publishing, which produces the Publican and
Tony Harris, the managing director of Emap Media, declined to reveal the
identity of the contenders. ’We are in an advanced stage of the
negotiations, but an announcement cannot be expected for a few weeks
yet,’ he said.
Staff at Emap have received a formal announcement from management
regarding the titles to be included in the package. But Marina Thaine,
the company’s corporate communications director, said: ’We can’t say
which titles will be sold, or if they are to be sold, as we don’t have a
deal until we have negotiated it with the buyer.’
This article was first published on Campaign