UBM seeks buyers for Exchange & Mart

United Business Media has put its classified car title Exchange & Mart up for sale in a move to raise funds for the rest of the business.

The company has decided to offload the titles after a review of its automotive business found the pair would be better placed with another publisher.

UBM has pledged the proceeds of the sale will be reinvested in the company’s core business, which has been the subject of a reorganisation in recent months with the United Advertising Publications moving under control of Bernard Gray, chief executive of CMP Information.

In 2004 the automotive titles brought in £35.8m worthy of revenue for UBM, while the Exchange & Mart website has an average of over 5 million page impressions per month.

UBM has refused to comment in what price range it would welcome bids.

Gray said: “CMPi and UAP both have excellent classified advertising businesses.

“Exchange & Mart is a particularly strong brand, but one which we believe other organisations are better placed to develop, particularly around the automotive classified sector.

“We have been approached with regard to these titles, indicating that there is already an encouraging level of interest.

“The integration of the other UAP titles and businesses into the CMPi fold is now underway and we are excited by the opportunities that have already become apparent.”

By Kevin May

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