Emap moves in big guns at French arm
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Your support makes all the difference.EMAP is beefing up its management presence at its newly acquired French subsidiary.
Kevin Hand, chief executive of the publishing group's consumer magazine division, is to become chairman of Groupe Emap, a new French company that will encompass Editions Mondiale, the French magazine company, and 10 other titles bought by Emap in a pounds 108m deal last month. Mr Hand will be based in Paris for at least a year as Emap tries to integrate its new purchases.
David Arculus, Emap's managing director, said the acquisitions had given the company an 11 per cent share of the French market.
'Given our size, it is obviously important that we have senior management 'on the ground', integrating our new businesses into Emap and releasing the profit potential,' he said.
Tom Moloney, who is responsible for Emap's teenage, music, entertainment and women's magazines, becomes deputy chief executive of the consumer magazine division. The move is clearly intended to ensure that the division, which last year contributed more than half group profits, remains focused in Mr Hand's absence.
Emap said it would delay posting its formal offer document to shareholders in Trans World, the radio group for which it is bidding pounds 71m. It said it would post the document on 8 August or within seven business days after judgment is given in an allied judicial review due to be heard on 27 July.
This is a challenge by another Trans World shareholder, Guardian Media Group, to the Radio Authority's decision to approve a complex scheme by Emap which avoids the ceiling on the number of licences any individual company can hold. Meanwhile, the board of Trans World has confirmed that it will abide by a Takeover Panel ruling that it should not participate in the legal action.
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