£13m businesses dropped for £1.50

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.

Comments

comments

 

“Before we all sink into a slough of digital dystopian despair, it might be worth considering this: is this a sign of the strength, not weakness, of revelatory journalism in the digital age?”


Charlie Beckett, director of POLIS at the London School of Economics, reacts to news that the UK government forced the Guardian into destroying hard drives that contained information leaked by Edward Snowden.


(Source: POLIS)

 

Subscribe to Media Digest via Email

Enter your email address to subscribe to Media Digest and receive notifications of new stories by email.

Latest Media Industry News, Independent News and Media, UK