UBM Off-Loads Music Week And More For £2.4 Million

UBM, which has been divesting some of its titles lately whilst buying up in India and Asia, is selling its UK entertainment and technology titles to the smaller, independent trade publisher Intent Media for £2.4 million.

That includes Music Week, Pro Sound News Europe, TVB Europe, Installation Europe and related websites and events. Thirty-six staff are moving over.

This is an off-loading. At £5.4 million, the portfolio’s 2010 revenue was more than double the sale price. Profit/loss is not clear.

Intent’s portfolio includes the Mobile Entertainment website and the MCV title for the interactive entertainment business.