Emap readies itself for sale

Owner of radio stations Kiss and Magic, Emap is reportedly "encouraged by the level of interest" in the group's assets, as it prepares to send out information to potential bidders for the company.

A statement from Emap today said it "remains focused on examining all options to maximise shareholder value, including a possible sale or demerger of the constituent parts of the Group." The news saw Emap's share price rise to 875p this morning, a increase of nearly 5%.

The statement added that it would be "providing information to interested parties on a confidential basis over the next two weeks." Informal sale talks are likely to be held with potential bidders before hand, with "lots of companies" reported to be involved.

Emap also gave an indication of its results since July. It said: "The B2B division continues to deliver strong underlying revenue growth; Radio is performing well in what appears to be a more positive market; and, while revenue growth remains challenging in our consumer magazine markets, there is increasing confidence that the operational efficiency initiatives commenced last year will deliver benefits earlier than anticipated."

Along with the potential sale, the company is reviewing its group structure, and is still searching for a new chief executive, following Tom Moloney's departure from the role earlier this year.