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BtoB

CMP Technology sells noncore publications to Wicks Group for $47 million

Published on .

London—CMP Technology last week 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.

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