Mobile Company To Buy UK Publisher For $120 Million
By James Quintana Pearce - Tue 26 Jun 2007 01:16 AM PST
Some British tabloids are in the process of being sold to a mobile content and services company, which would result on them being listed on the stockmarket. Interactive World—which is listed on the AIM and had its shares suspended from trading yesterday because of the deal—is in talks to acquire Sports Newsgroup Limited as part of a 60 million pound (US$120 million) deal. The publishers owns newspapers such as The Daily and Sunday Sport reports Irish Examiner. “The two companies involved already have close ties as the Sport’s co-owner, David Sullivan, has a 49.95 percent stake in Interactive World.” The papers also have a deal with Interactive World by providing the content provider with “a source of customers for its services through advertising and editorial, according to a company report which describes the link-up as “an essential element” of its success”. Interactive World is described as selling adult content.
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