Hearst ‘Bids For Emap Magazines’ – Report

Update: Hearst has made an indicative offer of £700 million for the consumer division of Emap (LSE: EMA), reports the FT today (Monday, 8 October). It also reports that Phil Riley, ex-head of Chrysalis Radio, has put in a bid for the radio operations, and DLJ Merchant Banking Partners has teamed with Texas Pacific Group to buy both Emap