The company said its Asia and Latin America businesses are thriving, but its U.S. divisions, “particularly those serving the technology and trade sectors, continue to be affected by the challenging recessionary environment,” according to the statement.
The company said that while banner advertising is under pressure, lead-generation products are showing strength. Additionally, the company said the markets it serves will likely support fewer print products in the future.
“In anticipation of this market trend, we are managing our portfolio towards a smaller set of market-leading, commercially sustainable titles, each operating within an integrated product portfolio,” the statement said.
The company has spent about $30 million on acquisitions this year and remains on the lookout out for further opportunities.
“The focus of our acquisition efforts remains on trade shows and IP-based data and service businesses, and on opportunities in emerging markets, particularly in China, India and Brazil,” the statement said.