Miller Freeman parent to buy CMP Media

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London -- United News & Media, the parent company of Miller Freeman, announced Thursday that it has agreed to buy CMP Media for $920 million. The deal would give Miller Freeman an instant Internet presence with CMP's Web portal, CMPnet. Miller Freeman said it may have an initial public offering of CMPnet shares later in the year. In March, Ziff-Davis sold shares of its own online division, ZDNet, raising $200 million and achieving a current market capitalization for its Web portal of about $2.6 billion. Miller Freeman plans to group its niche high-tech titles, such as Dr. Dobb's Journal, under the CMP brand name, joining such CMP titles as Information Week and Computer Reseller News. Meanwhile, Miller Freeman's worldwide trade show presence strengthens the CMP name in face-to-face marketing.
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