Michael Heseltine’s Haymarket has announced it is to buy four
magazines – Media Week, Eye, Packaging News and AV – from Quantum
Business Media (QBM) for an undisclosed sum.
Staff will be relocated to Hammersmith-based Haymarket and no redundancies have been announced as part of the deal.
Durham, chairman and managing director of Haymarket Business, said:
“The opportunity to acquire this portfolio makes sound sense for
Haymarket, as it would enable us to strengthen our position in several
market sectors with good-quality publications and events which
complement our existing portfolio well.”
QBM chief executive Neil
Thackray said: “I am delighted that the four titles are being acquired
by Haymarket who are extremely well placed to develop the titles and
their associated events alongside existing Haymarket titles.”
also announced the sale of Bathrooms & Kitchens magazine and its
related conference to DMG Angex last week, but it is thought the
magazine will be closed. Seven staff have left Quantum but have not
been transferred to DMG.
Quantum has been in negotiations to sell
off all its conferences and magazines, which include Press Gazette,
since late last year.