Drapers and Nursing Times for sale as print advertising declines

London - Fashion trade magazine Drapers, the 111 year old Nursing Times and Architects' Journal will all be up for sale soon as the age of the digital continues to eat away at print magazines. Ascential, the publishing and events business previously know as Emap, is set to sell a total of 13 of its "heritage" titles into a separate operating entity.

The sale will leave Ascential with a single print title - Retail Week, which the company has decided to keep as it sits in line with its digital businesses Planet Retail and One Click Retail. The publication titles will be held for sale in a separate operating division as Ascential holds talks with potential buyers and could be sold off individually or together, depending on buyers interest.

"Ascential's growth strategy continues to be to focus its resources and investment on its largest brands and those with the highest growth potential," said Duncan Painter, CEO, Ascential, in a statement. "Our top five products represented 56 percent of Group revenue and 71 percent of Adjusted EBITDA in the 12 months to 30 June 2016."

The sale comes as Ascential moves away from publishing, following a substantial drop in print advertising across its titles. The "heritage" titles witnessed a decline in revenues over the last few years, from 29 million pounds in the first half of 2015 down to 26 million pounds in the first half of 2016. For the 12 months to 30 June, 2016, the titles print advertising generated 9 million pounds, down from 11.6 million pounds in 2015, which is less than 3 percent of the company's total revenue.

By selling off the 13 titles, the group will be able to focus on the "largest brands, with the highest growth potential", which include the fashion trend forecast WGSN, Cannes Lions advertising festival and environmental data business Groundsure. "This move will further focus our portfolio on our largest market leading products," added Painter. "The Heritage Brands, with large, loyal audience communities, provide an exciting opportunity new owners."

Photo: Drapers, website