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BPI COMMUNICATIONS SIGNS DEFINITIVE AGREEMENT WITH VNU

 NEW YORK, Jan. 14 /PRNewswire/ -- The partners of BPI Communications, L.P. ("BPI") announced today that they have reached a definitive agreement with VNU, a Dutch-based publishing and information company, to sell 100 percent of the equity interests in BPI for $220,000,000 in cash. The partners of BPI are Boston Ventures, The New York Times Company and BPI management. The New York Times Company acquired its interest in BPI through its October, 1993 merger with Affiliated Publications, Inc.
 Gerald S. Hobbs, chief executive officer of BPI said, "Consummation of this transaction will provide BPI with the ownership commitment of a worldwide publishing and information player. This will strengthen BPI's ability to face the challenges of today's rapidly changing marketplace." Arthur F. Kingsbury, BPI's president, indicated that "VNU's expressed intention to grow further in publishing in the United States represents a great opportunity for BPI to be part of an exciting and expanding enterprise". Both Hobbs and Kingsbury as well as the rest of BPI's management team will remain with BPI after the sale.
 VNU's operations span the creation and distribution of consumer magazines, regional newspapers, participation in commercial television, trade and professional magazines, educational books and business information services. VNU has companies in The Netherlands, Belgium, Great Britain, Italy, France, Spain, Eastern Europe and the United States. On a worldwide basis, the company employs about 10,000 people. VNU is a public company with shares listed on the Amsterdam Stock Exchange; it generates approximately $1.2 billion annually in revenues.
 BPI Communications publishes 19 magazines, including Billboard, The Hollywood Reporter and Adweek plus 20 annual directories. Its book division Watson-Guptill, publishes and distributes specialty books under five separate imprints. In addition to its publications, BPI is a leader in electronically collecting, storing and delivering data for targeted entertainment and media sectors. The company operates five computer-based communications and information services: Adbank, Adweek News Wire, Billboard Information Network (BIN), Broadcast Data System (BDS), and Entertainment News Wire (ENW). BDS uses proprietary, patented technology to instantly and precisely monitor radio and television airplay; BIN is an on-line information service providing critical, timely and actionable chart data to the entertainment industry; ENW provides daily feed of all editorial from BPI's seven entertainment magazines to newspapers, television and radio stations worldwide; ADBANK is a TV commercial retrieval service with a library of every major TV spot produced in the last ten years.
 A third component of BPI's operations is the marketing services. Entertainment-related promotions packaged by BPI enable advertisers and promoters to reach consumers through the licensing of its copyright material and trademarks for broadcast, republication and retail promotions on a worldwide basis. For example, the company produces the Billboard Music Awards Show which airs annually on the FOX TV network.
 BPI's profile is unique in that all of its resources are directed to serve the overlapping areas of media and entertainment, the arts and design.
 BPI employs 800 people at 19 offices located around the world.
 -0- 1/14/93
 /CONTACT: Georgina Challis of BPI Communications, Inc., 212-536-5199/


CO: BPI Communications, Inc.; VNU ST: New York IN: PUB ENT SU:

TM -- NY013 -- 2057 01/14/94 09:07 EST
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Date:Jan 14, 1994
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