DMG WORLD MEDIA SEEKS BUYER FOR BUSINESS MEDIA PROPERTY.

In order to focus its resources and energies on six core (three consumer, three trade) business sectors, dmg world media (London) is seeking qualified acquirers for its ding business media (Redhill) unit. The unit has annual revenue in excess of [pound]30 million and has 300 employees. It offers information products and exhibitions in eight major categories: chemicals and pharmaceuticals; coatings and finishing; metals; fire; power; glass; marine; and, electrical retailing.

dmg world media is being represented by Jordan, Edmiston Group (New York).

The business media division's assets includes 50 trade exhibitions and conferences, 50 magazines, 22 directories, 38 market reports and associated Web sites. The unit's growth over the last five years was accomplished both through acquisitions, including ERT,, Asian and Middle East Electricity and Communicate, and launches such as Helix Magazine and the "Electrotechnical Trade Fair." The company said that over half of the unit's revenues come from outside the U.K. Other magazine titles to be sold include Tobacco Europe, Tobacco World, International Broadcast Engineer, ERT Weekly, Technical Rescue, Industrial Handling & Storage, Glass International and Fire International.

dmg world media director Mike Cooke said "we have recognized that our resources would not extend to funding the future development of dmg business media at an appropriate level." Red-hill managing director Paul Camp said the unit "has many internationally recognized titles and, since it is being sold in its entirety, presents prospective purchasers with a ready made European presence."

dmg world media said it will concentrate its resources on its core business sectors: home interest; gifts; art & antiques; sports retailing; oil & gas; and, intermodal transport. The company is a division of Daily Mail and General Trust Plc.