Bauer Consumer Media has revealed that businesses it bought for £13m were sold last year for £1.50, reports the Daily Telegraph.
The group said it offloaded Yospace Technologies, a mobile blogging business which had cost £8.9m, for £1 in April 2007.
And the group sold a 40.1 per cent stake in NextGen, which launched FHM India, for 50p, having acquired it for £4m.
(Source: Daily Telegraph)
This article appears in issue 255 of Media Digest.