MAIN NEWS HEADLINES
October 15-31, 2004 Edition
To Sell Media
Unit to Investors
OTTAWA/10/08/2004Toronto-based Thomson Corp. has announced it will sell its media division to Investcorp, an investment group, for $350 million in cash. The deal is expected to close by year-end.
The company is selling Thomson Media, which publishes about 50 trade magazines, in order to focus its efforts away from print publications and more toward electronic publishing. Thompson Media had 2003 revenues of about $170 million. Its publications include American Banker and The Bond Buyer, as well as electronic databases.