Exhibitors were informed of the news last week in a letter dated 1 May. It read: "It is with great regret that Ocean Media Group Ltd has decided to cancel the above event due to take place on 30 to 31 January 2013.
"Any monies you have already paid to Ocean Media Group as a form of a deposit to secure your stand at Event Production Show 2013 will be refunded to you in full."
Ocean has since confirmed to Event it is in negotiations with four bidders to sell various combinations of the Event Production Show, UK Venue Show, Event Production Awards and Access All Areas magazine.
It said the disposal of its events business is part of a process of selling anything in an area where the company is not market dominant.
Back in January, , it promised no changes or redundancies would be made.
At the time its CEO David Moran stated: "Ocean is a great company with strong products and fantastic people and I looking forward to growing Ocean again."
There has been plenty of speculation as to who the four bidders are, but Jonny Sullens, group director of UBM Live, which produces rival show IOEX, said it is not immediately clear who would purchase the portfolio.
"No one likes to hear of shows or businesses closing but it seems that all the team have found employment which is great news," he said.
"From a competitive standpoint we knew that there was the opportunity to create a new event for this sector, which we did with IOEX which took place alongside Confex at Excel.
"The industry now has two excellent events – The Showmans Show and IOEX – positioned at either end of the season and that is probably enough," he added.
Ocean Media was established by Ion Equity in July 2006 when it acquired the exhibitions and magazines businesses of Trinity Mirror for £41m.
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