Trinity targets marketing site

NEWSPAPER publisher Trinity Mirror has held tentative takeover talks with the online marketing group Interactive Prospect Targeting Holdings (IPTH).

Trinity chief executive Sly Bailey is considering a series of digital deals to add to websites such as Secs in the City and Email4Property that shore up The Mirror owner’s advertising base.

AIM-listed IPTH, which is worth £50m, put itself up for sale in August, but so far has not found a buyer. It has built up a giant database of personal information, including 9m e-mail addresses, but margins are falling.

IPTH owns websites such as MyOffers and Quizplayer, which collect information from online questionnaires that is sold on to customers such as Scottish Power and William Hill. Consumers are enticed to sign up and take part in a survey by the lure of prizes such as holidays and cars.

It’s a Reits success

WHEN they were launched on January 1 this year, the City was sceptical about what impact tax-efficient real estate investment trusts (Reits) would have on the quoted property sector.

But the results speak for themselves. Since their introduction, a total of 17 UK Reits have been created, with a market value of £25 billion. That figure could easily double as more hotel and pub groups look at taking advantage of the tax benefits, which release companies from paying capital-gains tax.

Dave Butler, programme co-ordinator of the sector body Reita, said: “UK Reits have been a real success, despite market volatility that has hit the property and many other stock-market sectors in the past year.”

Reed fails to sell arms fairs

THE professional publisher Reed Elsevier has failed to sell off its controversial arms fairs by the end of this year as planned.

The tiny but highly profitable division was put up for sale in June after key customers and authors took offence at Reed’s involvement in shows such as DSEi (Defence Systems & Equipment International), London’s main arms fair, where some exhibitors were ejected this year for trying to promote leg irons.

Sir Crispin Davis, Reed’s chief executive, was criticised at last year’s annual meeting by antiwar campaigners. F&C Asset Management and the Joseph Rowntree Charitable Trust also sold their shares in the company in protest.

Bids for the division, which includes the Abu Dhabi Idex fair, came in at close to £30m, but failed to progress. The sale is being handled by Price Waterhouse Coopers.

Reed said recently that there was “very active interest” in the portfolio.

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