End of an era as UBM sells its final title

UBM has taken a further step away from magazine publisher to events company after striking a deal to sell its last major publication, the construction industry bible Building.
The FTSE 250 firm – a former owner of Express Newspapers – has been steadily shedding its print titles amid an industry-wide decline in advertising revenues, including selling trade magazines Property Week, The Publican and Music Week.
The group has instead focused on expanding its exhibitions business, which now makes up more than 90pc of its ?863m revenues.
End of an era as UBM sells its final title

Building's scoops have included coverage of delays to construction of the new Wembley Stadium

Heathcliff O'Malley
Building is one of Britain’s oldest magazines, having been founded in 1843. The title has been sold to its management team, led by director Tom Broughton, alongside architectural website Building Design, online venue directory Venue Finder and other events associated with these brands.
It is understood staff affected have entered into a consultation period, with Mr Broughton expected to move the operations from UBM HQ on London’s South Bank to offices in the east of the capital in the coming weeks.
UBM's remaining print and digital titles include Chemist and Druggist, Seatrade, and health and safety title SHP.
In 2016 UBM posted pre-tax profits of ?208.5m on revenues of ?863m.
UBM declined to comment and Mr Broughton was unavailable for ­comment.
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Март 2018    »