Product category:
Events, meetings and conferences
News Release from: Events Industry Alliance
Edited by the Marketingservicestalk Editorial
Team on 11 January 2008
GBP1bn 'events' sale bucks economic doom
The downturn-busting performance of the live event sector undoubtedly assisted the sale of Emap's B2B events and magazine operation to Guardian Media Group and private equity firm Apax.
The GBP1bn deal marks the final break-up of Emap, which began as a regional newspaper publisher in 1947 before expanding to become one of the UK's biggest media companies, with businesses stretching across radio, TV, consumer and B2B magazines as well as events "We are delighted to have secured the board's recommendation for our joint offer with Apax Partners," said Carolyn McCall, chief executive of GMG, which publishes the Guardian, Observer and Guardian Unlimited network of websites
This article was originally published on Marketingservicestalk on 21 Mar 2007 at 8.00am (UK)
Related stories
EIA highlights how events complement new media
Of all the media at brand owners' fingertips, it is event marketing that is not suffering ill effects from the digital revolution, writes Events Industry Alliance chief executive Trevor Foley.
DVD explains the Art of Successful Exhibiting
Jack Dee stars in the Events Industry Alliance's film, available on DVD with an accompanying e-learning package, that explores the mysterious art of successful exhibiting.
"Emap Communications is a strong business with a range of highly successful brands; the acquisition meets our requirements in terms of diversifying GMG's media interests, in line with our commitment to guarantee the long-term financial security of the Guardian".
EIA group chief executive, Trevor Foley, said: "Throughout the protracted and well-documented breakup of the Emap group, it was rightly the B2B events arm that was extolled as the jewel in the crown.
"It is therefore gratifying to hear Eden Bidco (the GMG and Apax bid joint company), recognise 'an asset of exceptional quality, uniquely positioned in markets with strong underlying fundamentals' which made Emap a 'compelling investment'.
"The EIA welcomes Apax and GMG's planned support for the management's strategy of solid organic and selective acquisitive growth and looks forward to working together to grow the live event marketing medium".
Alun Cathcart, the executive chairman of Emap, said that the deal represented a "further compelling opportunity for shareholders to crystallise the value of Emap's B2B business - this reflects the exceptional quality of these assets".
Emap's range of events and exhibitions includes the Cannes Lions International Advertising Festival, the Education Show, Interbuild, the World Retail Congress, Professional Beauty and gift and home shows, Spring Fair and Autumn Fair.
Foley concluded: "More marketers than ever recognise that live event marketing ticks too many critical boxes to be dropped from their budgets and the signs are that, this time round, it will be the more traditional media like advertising that will be hit most by any spending cuts, if there is an economic downturn".
• Events Industry Alliance: contact details and other news
• Email this article to a colleague
• Register for the free Marketingservicestalk email newsletter
• Marketingservicestalk Home Page
Search the Pro-Talk network of sites
