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"The board remains focused on examining all options to maximize shareholder value, including a possible sale or demerger of the constituent parts of the group," Emap said in the statement.
As reported, the company is considering selling its consumer, B2B and radio divisions either separately or as a whole. A spokesman for Emap said the company didn't plan to sell off individual titles, such as Grazia and the fashion Web site WGSN, to separate publishers. Industry sources say it's also possible Emap may retain one or all of its divisions, and is looking for a new chief executive in addition to undertaking the review process.
The company said it will provide an update on the progress of the review Nov. 13, when it releases its interim results. As reported, Apax Partners, the Italian publisher Mondadori and Guardian Media have all expressed an interest in purchasing parts of the company.
Emap added in the statement that trading since its last update had been "encouraging," adding that although revenue growth in its consumer magazine division remained "challenging," it expected operational efficiency initiatives to deliver benefits to the sector, and that Emap's B2B division had delivered strong underlying revenue growth. — Nina Jones
EXTRA, EXTRA: Stefano Pilati is taking his fashion message to the street, literally. Yves Saint Laurent plans to distribute two million copies of an advertising vehicle in newspaper form dubbed "Manifesto," starting Sept. 6 and 7 in New York during fashion week. The 20-page journal, printed on recycled paper, will run as an insert in some print publications, including The New York Times, but most will be handed out in various cities: outside subway stations in Paris on Sept. 12, and during two other fashion weeks — London on Sept. 17 and Milan on Sept. 28. The tactic echoes the theme of YSL's current fall-winter campaign, shot by Ines van Lamsweerde and Vinoodh Matadin and featuring model Gisele Bündchen on the streets of Paris' Ile Saint-Louis at night. The Manifesto will also be declared in virtual form when the French firm's new Web site goes live the week of Sept. 10. — Miles Socha
As reported, the company is considering selling its consumer, B2B and radio divisions either separately or as a whole. A spokesman for Emap said the company didn't plan to sell off individual titles, such as Grazia and the fashion Web site WGSN, to separate publishers. Industry sources say it's also possible Emap may retain one or all of its divisions, and is looking for a new chief executive in addition to undertaking the review process.
The company said it will provide an update on the progress of the review Nov. 13, when it releases its interim results. As reported, Apax Partners, the Italian publisher Mondadori and Guardian Media have all expressed an interest in purchasing parts of the company.
Emap added in the statement that trading since its last update had been "encouraging," adding that although revenue growth in its consumer magazine division remained "challenging," it expected operational efficiency initiatives to deliver benefits to the sector, and that Emap's B2B division had delivered strong underlying revenue growth. — Nina Jones
EXTRA, EXTRA: Stefano Pilati is taking his fashion message to the street, literally. Yves Saint Laurent plans to distribute two million copies of an advertising vehicle in newspaper form dubbed "Manifesto," starting Sept. 6 and 7 in New York during fashion week. The 20-page journal, printed on recycled paper, will run as an insert in some print publications, including The New York Times, but most will be handed out in various cities: outside subway stations in Paris on Sept. 12, and during two other fashion weeks — London on Sept. 17 and Milan on Sept. 28. The tactic echoes the theme of YSL's current fall-winter campaign, shot by Ines van Lamsweerde and Vinoodh Matadin and featuring model Gisele Bündchen on the streets of Paris' Ile Saint-Louis at night. The Manifesto will also be declared in virtual form when the French firm's new Web site goes live the week of Sept. 10. — Miles Socha
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