UK media group Ascential has carved off 13 magazine titles into a separate entity with a view to selling them. The so-called ‘Heritage Brands’ include Nursing Times, MEED and Drapers. Ascential will have just one print asset, Retail Week, after it offloads the titles.
A sale is “highly probable”, Ascential said, in light of “ongoing discussions”. Together, the magazines generated £63m in revenues in 2015 and £26m in the first half of 2016. (Full-year 2016 results are due at the end of February.)