Finnish publisher Sanoma is the latest company reported as being interested in bidding for Emap’s consumer magazines, according to the Observer. It joins German publisher Gruner & Jahr, France’s Lagardere and Hachette-Filipacchi , and Grazia‘s Italian owner Mondadori.
Meanwhile, the Telegraph has reported that Emap is so determined to sell the business it might ask its own banks to lend money to bidders.
Mondadori has said it is not interested. To which the Times said: ‘Don’t believe Mondadori’s on-the-record denial that it is interested in Emap’s consumer magazines. It is. Italian publishing is complex.’
On Tuesday, the Times said private-equity group Quadrangle, which has already bought Dennis Publishing’s US arm for £120 million, had asked for details about Emap’s consumer division.
CMP and Guardian Media Group covet the business magazines, such as the Nursing Times and Construction News, as do private equity companies, including VSS and Apax Partners.
The Financial Times has said as many as 30 potential buyers have had informal talks with Emap. However, Bertelsmann, the German media group, told the paper it is not interested in Emap.
Profiles of UK magazine publishers