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CAHNERS SELLS METAL MAGAZINES TO METAL BULLETIN.

Cahners Business Information (New York) has also signed an agreement to sell its metals properties to Metal Bulletin plc. (Surrey, UK) for $11 million in cash. Cahners said it is selling the properties as part of its ongoing effort to focus growth in strategic market sectors. The deal is contingent on government approval.

The publications included in the sale are American Metal Market, the metals unit flagship, Metal Center News and New Steel magazines, as well as their related print and online properties. American Metal Market is a business daily launched in 1882 with a paid circulation. The other two titles are monthly magazines for the metal and steel producing, refining and distribution industries with controlled circulations. Also included in the sale are related conferences, online properties and annuals.

Metal Bulletin plc. is a major publisher of magazines, newsletters, reports and directories for the metals, energy, commodities, financial services, mining, textiles, and shipping categories. Publications include Metal Bulletin, American Metal Market's major competitor, Industrial Minerals, World Mining Equipment, Fashion Business International, Textile Month and Wool Record.

Metal Bulletin chief executive Tom Hempenstall said the deal consolidates "our position as the leading information provider to the global metals industry, strengthens our existing portfolio of metals industry publications and services and gives us critical mass in the important North American metals markets."
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Title Annotation:Cahners Business Information New York Magazine Div.
Comment:CAHNERS SELLS METAL MAGAZINES TO METAL BULLETIN.(Cahners Business Information New York Magazine Div.)
Publication:Business Publisher
Article Type:Brief Article
Geographic Code:1USA
Date:May 16, 2001
Words:220
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