Friday, November 05, 2010

News this week: UBM to keep all Canon print titles

London, 1st November: According to an article published by Folio, United Business Media (UBM) does not plan to shut down any of the 24 print publications the company acquired through the purchase of Canon Communications last month.

A UBM spokesperson was quoted saying that Canon’s non-electronic magazines will follow the same approach as the one used to manage all the other UBM titles under the renamed UBM Canon publishing group.

According to the Folio article, UBM has closed 35 print titles since the beginning of 2009, bringing the total of print magazines published worldwide by UBM to 106 titles. UBM reported a 15% drop in print sales to about US$164 million in the first nine months of 2010. Adjusted operating profit from print was approximately US$6 million – up from US$2 million during the same period in 2009.

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