Hollick buys US publisher for $4m
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.UNITED NEWS & MEDIA, the television broadcaster, publisher and business services group, is to announce this morning the $4.0m purchase of the privately owned US firm MP&A Editorial.
MP&A publishes magazines about car stereos and professional sound systems and the deal will further United's expansion into the US market, following the $900m takeover of CMP, a trade magazine publisher, earlier this year.
United has been buying companies to strengthen its trade show and magazine business in areas like technology and healthcare. The company, which publishes the Express and Daily Star newspapers and is headed by Lord Hollick, has increasingly sought to expand into business-to-business publishing.
A spokesman said MP&A will help build on the position of United's New York-based unit, Miller Freeman, as one of the top publishers of professional audio, video and broadcast production magazines. United's strength in that sector could also yield Internet publishing opportunities.
Martin Porter, MP&A's founder, will join the executive team of Miller Freeman as senior vice president and publishing director. MP&A will become an operating unit of Miller Freeman and will provide marketing and trade show support to its other magazines, expositions and conferences.
United will pay $2.25m in cash and a further $1.75m based on future earnings.United News shares closed down 3p at 623p yesterday.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments