United Business Media Sells CMP Titles for $47 Million
United Business Media announced today that it sold a portfolio of non-core, consumer and enthusiast media assets from its U.S.-based subsidiary CMP Technology to The Wicks Group of Companies LLC for a cash consideration of $47 million. The portfolio is comprised of titles that derived 85 percent of their 2005 revenues from print. The titles include Guitar Player, Bass Player, Pro Sound News and Systems Contractor News. The total portfolio generated total revenue last year of $41.3 million. The Jordan, Edmiston Group brokered the transaction.