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United News & Media plans to streamline media portfolio

Published on .

London--United News & Media plc, London, confirmed plans Thursday to sell assets of Miller Freeman that are not deemed core to its operations. United is making the move because its portfolio of about 1,000 media properties in 29 countries and spanning 50 market sectors is too broad to fund every venture adequately, said Nigel Main, head of communications for Miller Freeman Worldwide. In the U.S., United will retain high-tech properties acquired from its $920 million purchase of CMP Media in May, as well as paper packaging and medical properties, Mr. Main said. Consultancy McKinsey & Co. is an adviser to United in the divestiture plan. A deadline for the divestiture has not been set and sale amount not disclosed.
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