Mobile Company To Buy UK Publisher For $120 Million

Some British tabloids are in the process of being sold to a mobile content and services company, which would result on them being listed on the stockmarket. Interactive World — which is listed on the AIM and had its shares suspended from trading yesterday because of the deal — is in talks to acquire Sports Newsgroup Limited as part of a 60 million pound (US$120 million) deal. The publishers owns newspapers such as The Daily and Sunday Sport reports Irish Examiner. “The two companies involved already have close ties as the Sport’s co-owner, David Sullivan, has a 49.95 percent stake in Interactive World.” The papers also have a deal with Interactive World by providing the content provider with “a source of customers for its services through advertising and editorial, according to a company report which describes the link-up as “an essential element” of its success”. Interactive World is described as selling adult content.

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