United News & Media Sells CMP French and UK Portfolios

Posted on August 11, 1999

United News & Media plc has announced that it has sold the UK and French publishing portfolios of the recently acquired CMP Media to VNU for a total consideration of $4 million.

Tony Tillin, Chief Executive of Miller Freeman Worldwide, said: "We are well on the way to delivering the objectives set at the time of the CMP acquisition in June. We are continuing to rationalise our portfolio, in line with our business strategy, to reflect those sectors where we have strong positions and excellent growth prospects. We are also on track to achieve the $40 million profit improvement targeted at the time of the acquisition."