Link: Independent Online Edition > Business News
Emap warned yesterday that advertising revenues in its radio and consumer magazine businesses had plunged further, leaving the media group vulnerable to a takeover bid.
Putting out the company’s second profits alert in a year, its chief executive Tom Moloney admitted that Emap faced “structural” difficulties in its glossy magazines and radio businesses. The third leg of the group, business-to-business publications, continues to prosper.
Emap also announced a cost-cutting programme that aims to save £20m a year by 2008/09. The restructuring will cost £30m, and the company has earmarked a further £10m for investment
May I venture to suggest that they should stop blowing £15 million on companies such as Yospace when they’re busy tightening their belts.
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