LONDON - Shares in Emap, the publisher of FHM and Just Seventeen, slid 8p this morning as news emerged that it is buying the 50% of French publisher Media Nature it does not already know in a cash deal worth £16m.
Emap is buying out Bayard Group, the firm with which it created the joint venture, to take control of seven French magazines including Le Chasseur Francais.
Emap hopes to complete the purchase by the end of June. Yesterday, Emap announced that it was to close its youth title Sky Magazine because of dwindling circulation.
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