ITE to dispose of non-core events in Russia

ITE Group plc today announces the proposed disposal of ITE Expo LLC (“ITE Expo”), the operating company for 56 of the Group’s Non-Core, regionally-focused, smaller events in Russia, to Shtab-Expo LLC (the “Purchaser) (the “Transaction”). These events comprise a significant proportion of the Group’s Non-Core assets in Russia. This disposal is a major step in delivering a key pillar of the Group’s Transformation and Growth (TAG) programme to focus on must-attend International events by actively managing its portfolio.

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Anthem Publishing to sell Music Making titles to BandLab Technologies

Anthem Publishing Ltd has today announced it is in advanced negotiations to sell its Music Making titles to BandLab Technologies. The purchase is anticipated to complete in the next two weeks and encompasses MusicTech, MusicTech Focus, The Guitar Magazine, Guitar Classics, www.musictech.net and www.theguitarmagazine.com, as well as other associated websites and social media pages.

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SurveyMonkey Files for IPO

DIY survey software company SurveyMonkey has announced that its parent company SVMK has filed for an initial public offering (IPO) of shares of its common stock. Director Sheryl Sandberg, who is also Facebook’s COO, will donate her ten per cent stake in the firm to her charity.

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MediaPost: Is New York magazine for sale?

A spokeswoman for New York Media has confirmed that the Wasserstein family is considering “investment interest and strategic opportunities” and “evaluating the market” following reports that New York magazine and its digital offshoots are up for sale.

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Blackstone Completes Previously Announced Acquisition of PSAV

Blackstone (NYSE:BX) today announced that private equity and real estate funds managed by the firm have completed the previously announced acquisition of PSAV, a global leader in event experiences. As part of the completed transaction, affiliates of Goldman Sachs (NYSE:GS) will be reinvesting alongside Blackstone in the transaction to continue to participate in the ongoing growth of PSAV

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ITE disposes of 75% holding in ECMI ITE Asia Sdn. Bhd to UBM (Informa)

ITE Group plc today announces it has sold its 75% stake in ECMI ITE Asia Sdn. Bhd. (“ECMI”), a Malaysia-based events business, and related assets in Indonesia to UBMMG Holdings Sdn. Bhd., a subsidiary of UBM plc which recently became part of the Informa Group, for a cash consideration of MYR 15m1 (c. £2.8m*).  This disposal is in line with the Group’s Transformation and Growth Programme (the “TAG Programme”).

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QD Events acquires SFN Expo

QD Events, Scotland’s biggest event organiser, has announced the acquisition of the Scottish Fitness and Nutrition Expo. SFN has grown significantly since its inaugural event in 2013, with record attendances and high exhibitor retention rates. QD has been a partial shareholder since 2016, when it acquired 25% of the show. It now owns the remainder of SFN, after a bid for the further 75% was accepted.

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