End of an era as UBM sells its final title

UBM has taken its final step from magazine publisher to events company after striking a deal to sell its last major publication, the construction industry bible Building.

The FTSE 250 firm – a former owner of Express Newspapers – has been steadily shedding its print titles amid an industry-wide decline in advertising revenues, including selling trade magazines Property Week, The Publican and Music Week.

The group has instead focused on expanding its exhibitions business, which now makes up more than 90pc of its £863m revenues.

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