Guardian Media Group (GMG) and private equity company Apax Partners have bought EMAP’s business-to-business magazine and events arms for an undisclosed amount. The sale comes just weeks after EMAP sold of its radio and consumer magazines division to German magazine publisher, H Bauer.
EMAP had decided to keep the B2B arm, the largest of its three divisions and valued at £1.3bn, after it failed to attract the right price for it during the summer. It is understood that GMG and Apax went back to the EMAP management team with a revised offer after the process had been completed.
The deal signals the end of EMAP, which was formed as East Midland Allied Press in 1947, as a key played in magazines and radio.
GMG, which publishes The Guardian and The Observer, and Apax were understood to be one of several parties interested in the division, which includes the titles such as Retail Week, Nursing Times (left) and Broadcast.
Earlier this year, GMG sold 49.9% of Trader Media Group to Apax although it is thought that Apax is keen to merge the EMAP titles with its other B2B interests under Incisive Media.