United Business Media has agreed to sell Property Week and its North Ameriican IT channel business for £8.5m.
Property Week has been bought by Croydon-based business publishing group Metropolis International. Its existing titles include Laboratory News, AV Magazine and Packaging News.
The deal covers the print magazine and all related products and will see 35 staff transfer to Metropolis. Property Week has a weekly circulation of 20,045.
The US business has been sold to a management-led investment group.
UBM has been conducting a review of the business which has seen it sell many of its trade magazine titles.
In February 2012 it sold its farming and medical portfolio to Briefing Media for £10m.
In March 2011 UBM sold The Publican to William Reed (which promptly merged it with the Morning Advertiser).
And in June 2011 UBM sold its portfolio of entertainment and technology titles, including Music Week and Bikebiz, for £2.4m.
Existing UBM titles which may yet be sold include Building Design and Travel Trade Gazette.
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