United Business Media Transfers EDN China And EDN Asia
April 04 2011 - 2:46AM
Dow Jones News
United Business Media Ltd. (UBM.LN) said Monday its subsidiary,
Canon Communications LLC, has transferred Canon Communications Asia
Pte. Ltd. and Beijing Reed Advertising Services Co., Ltd. - which
together own EDN China, EDN Asia and certain associated titles - to
eMedia Asia Ltd., UBM's joint venture with Global Sources Ltd.
(GSOL) for $4 million.
MAIN FACTS:
-UBM has a 39.9% interest in the joint venture and Global
Sources has a 60.1% interest.
-UBM shares closed Friday at 617 pence valuing the company at
GBP1.51 billion.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296;
ian.walker@dowjones.com
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