Acquisition

Trinity Mirror PLC 29 November 2007 29 November, 2007 Trinity Mirror expands property portfolio Trinity Mirror plc is pleased to announce the acquisition of Globespan Media Ltd, publisher of Homesoverseas.co.uk and Showhouse.co.uk and their magazine counterparts, together with What House online and the What House Awards. Globespan was acquired for an initial consideration of £0.9 million and a deferred consideration of up to £5 million wholly conditional on the achievement of specified operating profit targets over the next 30 months. Globespan is expected to generate revenues of at least £4 million in its first year of ownership. Globespan will be integrated with Trinity Mirror's, Smart Media Services, a rapidly growing online property business with both general and specialist ambitions. Through Globespan the business will now enjoy a significant position in two high value specialist niches. Homes Overseas is a consumer brand which has served this market since 1965 and is well positioned to take advantage of the increasing amount of buyer research now carried out on line. Show House and the accompanying What House Awards are business to business brands which allow Trinity Mirror to better address the demand for improved online services and marketing in this important sector. Sly Bailey, Chief Executive of Trinity Mirror plc said: 'Globespan is a great addition to our online presence. The Homes Overseas and What House brands perfectly complement our existing portfolio of successful online property businesses that include smartnewhomes.com and email4property.co.uk. 'This acquisition demonstrates how Trinity Mirror continues to segment and layer its markets by both geography and market sector. Globespan strengthens our regional network of over 80 local property sites and enables us to achieve faster growth of market share in the online property sector' Further enquiries: Trinity Mirror Nick Fullagar, Director Corporate Communications 020 7510 3000 Maitland Neil Bennett 020 7379 5151 This information is provided by RNS The company news service from the London Stock Exchange

Companies

Reach (RCH)
UK 100