Emap says 3rd quarter trading robust

Emap said trading for the group in the third quarter was robust and it remains on track to deliver against its expectations for…

Emap said trading for the group in the third quarter was robust and it remains on track to deliver against its expectations for the full year.

In December, Emap agreed to sell its consumer media and radio operations to Germany's Heinrich Bauer Verlag for £1.14 billion sterling.

Later that month the company recommended a 470 pence per share cash takeover from Eden Bidco, a vehicle formed by private equity firm Apax Partners Worldwide and Guardian Media Group.

In January Denis O'Brien's Communicorp Group completed the acquisition of Emap's three radio Irish radio stations for €200 million.

Communicorp is paying €148 million to buy national station Today FM and Highland Radio in Donegal, having recently sold Dublin's FM104 to UTV for €52 million, subject to regulatory approval. Communicorp is expected to offload Highland Radio.

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