Bauer Consumer Media offloads £13m business investments for £1.50

Bauer Consumer Media has revealed that it sold two businesses bought for £13m for £1.50.

The Daily Telegraph reports that the group, formerly the consumer magazine division of Emap until it was bought by Bauer for £1.14bn in December 2007, sold its mobile blogging technology business Yospace Technologies for £1 in April 2009.

The Telegraph also reports that the group sold a 40.1 per cent stake in NextGen media, the publisher of FHM India, for 50p in July 2009 – after acquiring the stake for £4m in 2008.

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