UBM ends 2016 on a fiscal high note.
UBM's well-documented "events first" business strategy appears to be paying off. The company reported £863 million ($1.07 billion) in total revenue in 2016, a 12.1 percent increase over 2015's £769.9 million ($958.7 million). Operating profit was up 5.5 percent to £152.7 million ($190.1 million), albeit at a slightly lower margin (17.7 percent in 2016, vs. 18.8 percent the year prior).
The growth can primarily be attributed to the company's expanding events business, not its media properties. UBM has spent the last two years selling off many of its print and digital trade magazines while targeting acquisitions in the conference and trade show space, which may or may not come with their own media products attached. UBM's global events business drove £711.6 million ($886.1 million) in revenue in 2016. That's a 12.8 percent jump over 2015, and events now account for 82.4 percent of total company revenue.
Print and digital revenues, which UBM categorizes as "Other Marketing Services," totaled £151.4 million ($188.5 million). When isolating only those properties that were not shuttered or sold-off in 2016, that figure represents an increase of 8.7 percent over 2015, according to the company.
HMP acquires EMS World from SouthComm.
HMP Communications Holdings, a Malvern, Pa.-based B2B firm serving the healthcare industry, acquired media and expo brand EMS World from SouthComm Business Media.
A monthly trade journal in circulation since 1972, EMS World (formerly, EMS Magazine) boasts a subscriber base of nearly 50,000 emergency medical care professionals, according to a 2016 media kit, and attracts over 5,000 of them to its annual EMS World Expo in October.
"HMP is a well-established and highly successful business that has built an industry leading position in healthcare," said Scott Cravens, group publisher of EMS World, in a statement, "and we believe the EMS World brands will benefit from a move that positions the portfolio firmly in the healthcare space."
SouthComm, which came to own EMS World through its late-2014 acquisition of Cygnus Business Media, was advised exclusively by Westport, Conn.-based Corporate Solutions. Terms were not disclosed.
Creative Loafing returns to its roots.
In a tangentially related but also noteworthy transaction, SouthComm Business Media's parent company, SouthComm Inc., sold the Atlanta edition of alternative weekly Creative Loafing back to Ben Eason, former CEO and son of Creative Loafing's original founders, Deborah and Chick Eason, according to reports.
The Easons founded the weekly, which typically covers local culture, entertainment, and dining, in Atlanta in 1972, before expanding the operation over the next 40 years to encompass a network of weekly publications stretching from Raleigh, N.C. to Sarasota, Fla. A troubled partnership with Cox Enterprises and one Great Recession later, mounting debt forced Creative Loafing into bankruptcy. The remaining properties were eventually acquired, in multiple parts, by SouthComm in 2011 and 2012.
SouthComm will hang onto Creative Loafing's Tampa, Fla. edition, as well as the Washington City Paper.
From the job board…
AIP Publishing, the Long Island-based media arm of the American Institute of Physics, is seeking a senior sales manager with five-to-seven years of experience — industry knowledge a plus.
See this and other new openings on the Folio: Job Board.