FT.com: Emap parts with chief as strategy shifts
Wednesday, 11 May 2011, 11:34
"Friends said [David Gilbertson] had left [Emap] after agreeing with its owners, Guardian Media Group and Apax Partners, that a five-year restructuring is needed. … [The] departure of Mr Gilbertson is certain to raise questions over the strategy…
Press Gazette: Emap boss David Gilbertson to step down
Tuesday, 10 May 2011, 21:45
"David Gilbertson is stepping down after three years as chief executive of Emap. … No announcement has yet been made about a successor"
Times Online: Guardian Media Group to take £150m hit on Emap
Sunday, 14 March 2010, 20:21
"GMG and Apax are buying back debt from Emap’s lenders after a warning in the last accounts of 'significant doubt' that the publisher could continue as a going concern because of its £700m debt pile. The owners are expected to buy back more than £100m of the borrowings to give David Gilbertson, the chief executive, more freedom to seek acquisitions and invest in the business. Despite its indebtedness, Emap has fared well in the recession. Advertising revenue has fallen sharply and conference attendances have declined, but it earned close to £100m in the past 12 months, roughly the same as a year ago and enough to cover its annual £50m interest bill. However, it is at risk of breaching technical conditions, or covenants, on its loans later this year."
The Independent: B2B publishers buck downward trend with profit jumps
Sunday, 12 April 2009, 14:38
"Emap and Incisive Media, the trade magazine publishers owned by private equity giant Apax, are understood to have made surprise profit jumps last year. Retail Week and Local Government Chronicle publisher Emap is believed to have made about £100m pre-tax profit for the 12 months to the end of March, a marginal increase on 2008-09. Turnover was approaching £300m."
Times Online: A little war and Peace in The Guardian boardroom
Wednesday, 8 April 2009, 12:09
"The Guardian and The Observer lost £26.8 million before various one-off write-offs in the year to March 2008. The recession means that the figure will be worse this year. … All this has been historically propped up by other businesses, but profits at GMG's regional newspapers have collapsed by 85 per cent to less than £2 million … Radio, always marginally profitable, is hardly faring any better. … [and] whatever profit comes out of Auto Trader and Emap will not flow into GMG's coffers, because of the debt repayments, which does not help when the national newspapers burn through £83,000 or so a day."
Independent on Sunday: Publisher fends off job cuts by asking staff to take unpaid leave
Monday, 16 March 2009, 09:09
"Incisive, the heavily indebted private equity-owned media group, has asked its 1,800 employees to take a week's unpaid leave to avoid redundancies."
Sunday, 11 November 2007, 10:26
0
"Guardian Media Group is expected to take a minority stake in Incisive Media, owner of Legal Week and Accountancy Age, if its joint £1.2 billion bid with the private-equity firm Apax for Emap’s business division succeeds."
Friday, 26 October 2007, 13:36
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McCall: "… we have to be more overt about the Observer coming from the Guardian news and media stable. But we’re not going to have the Guardian-on-Sunday – the Observer is a strong print brand."
Sunday, 14 October 2007, 09:33
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"Apax, the private equity firm, has teamed up with the publisher of The Guardian newspaper to mount a joint £1.2bn bid for Emap’s business publishing division … as it would fit neatly with Incisive Media , in which [Apax] has a shareholding"
