Cleveland – Penton Media, Inc. announced today that it sold its U.K. operations to members of the company’s management team led by U.K. Managing Director Andy Center, and to other investors including Northern Venture Managers. Penton retained 10% of the business. The portfolio includes Leisure Industry Week, Internet World U.K. and other events and media serving the technology and manufacturing markets. The transaction does not include the Natural Products Expo Europe or Electronic Design Europe magazine. Both remain part of Penton’s U.S. operations.
The company also recently completed the sale of 70% of its 50% interest in its Penton Media Germany subsidiary to Neue Medien Ulm Holdings GmbH. David Nussbaum, Penton’s CEO, says the events and magazines divested do not fit the company’s strategic growth objectives and the move will have no significant impact on future earnings.
Reach David Nussbaum, CEO at (212) 849-6835 or firstname.lastname@example.org