Acquisition by dmg world media
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Friday 12 May 2000
dmg world media, a division of DMGT, has today announced the purchase of two of the US's leading weekly antiques trade publications - AntiqueWeek Central and AntiqueWeek Eastern for an undisclosed sum which was less than £15 million. Net assets acquired were negligible.
The acquisition of Indianapolis based Mayhill Publications is aimed at strengthening dmg world media's presence in the US antiques market - the largest in the world.
AntiqueWeek Central is over 30 years old, having been first published in 1968, followed by Antique Week Eastern in 1986. Together, the two titles have a combined subscription base of over 60,000 readers. This makes them the largest paid circulation weekly antiques papers in the US.
"Our aim is to be recognised as an international authority - and our customers' first choice - in the arts and antiques market" explained Mark Carr, managing director of dmg world media's Antiques division.
The acquisition of the two newspapers follows a series of other recent acquisitions in North America, including six Home Shows, the California Gift Show and Surf Expo.
Inquiries to:
Mark Carr, Managing Director, Antiques Trade Gazette: (020) 7420 6600
Peter Williams, Finance Director, DMGT