By Sarah Lagan
Newsquest subsidiary Exchange Enterprises has acquired Exchange
& Mart and Auto Exchange from United Advertising Publications, a
division of United Business Media, for £50.25m.
Both titles were put on the market in June and Newsquest beat rival
publisher Johnston Press to the deal. Last year the titles generated
Launched in 1868, the classified advertising
magazine Exchange & Mart now has a circulation of 98,554 while the
free weekly Auto Exchange distributes 392,598 copies, with more than 20
regional editions throughout the country.
Commenting on the
acquisition, Newsquest chief executive Paul Davidson said: “We are
delighted to buy these titles. They are strong brands which we look
forward to growing and developing.”
UBM is changing its focus
from consumer affairs to concentrate on business to business and trade
shows as well as enthusiast titles such as Great Cars and Guitar Player.
Earlier in the year the company acquired The Publican from Quantum Business Media.