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BtoB

CMP Media parent reports first-half loss

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London--United Business Media, parent of CMP Media, reported revenue of $643.8 million for the first half of 2002, down from $765.2 million in the first half of last year. The loss for the first half of 2002 was $78.4 million, versus a loss of $13.0 million in the same period last year. Excluding amortization of goodwill and special items, United Business Media posted an operating profit of $56.8 million pounds, versus an operating profit of $63.0 million in the second half of last year. In the nasty tech advertising climate, CMP Media saw its revenue decline 37.8% to $212.9 million, versus $342.5 million in the same period last year.
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