Emap agree sale of magazine and radio divisions
Emap, the owner of Radio Clyde and Radio Forth has agreed a £1.14billion deal with
Heinrich Bauer Verlag KG to sell Emap Consumer Media and Emap Radio.
Alun Cathcart, executive chairman of Emap, said:“We are pleased to have achieved a successful outcome in the review of Emap’s Group structure. The price achieved for Emap Consumer Media and Emap Radio fully reflects the value of the two divisions. Emap will now be a focused B2B company with strong market positions, strong cash flow and a proven management team and track record in delivering value and growth.”
It has yet to be revealed as to how the deal will affect either Radio Clyde or Radio Forth.