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
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