Miller Freeman buys CMP Media

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Miller Freeman, a publisher of trade books and owner of international trade shows, has bought CMP Media for $39 per share, a net total cash consideration of $920 million (after deducting cash on hand of $27 million). CMP, publisher of Information Week, Computer Reseller News and other leading high-tech trade publications, will become a division of Miller Freeman, a subsidiary of United News & Media, London. The acquisition represents a major step forward in Miller Freeman's strategy to become a leading online provider of business-to-business products and services for the technology market. In addition to the CMP publications, Miller Freeman also acquires the 40 online sites, including TechWeb, that operate under the CMPNet brand.

Copyright April 1999, Crain Communications Inc.

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