London—CMP Technology Thursday announced that it has sold its “noncore” consumer and enthusiast magazines to Wicks Group of Cos. for $47 million in cash.
The portfolio includes Bass Player, Guitar Player, Pro Sounds News and Systems Contractor News. In 2005 the portfolio generated $41.3 million in revenue, according to CMP.
With the sale, CMP, which is owned by United Business Media, will be able to enhance its focus on its b-to-b media properties. Those properties include Dr. Dobb’s Journal, EE Times and Information Week.
Media investment bank Jordan, Edmiston handled the transaction on behalf of UBM.