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April 30, 1999 | Bloomberg News
Britain's United News & Media agreed to buy CMP Media Inc., the publisher of InformationWeek and Computer Reseller, for $920 million to grab a bigger piece of the fast-growing U.S. technology publications market. United would pay $39 a share in cash for CMP, a 15% premium to CMP's closing price Wednesday. It said it plans to boost spending to develop its Internet business by selling shares in a company it would form with its own units and pieces of CMP.
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BUSINESS
April 30, 1999 | Bloomberg News
Britain's United News & Media agreed to buy CMP Media Inc., the publisher of InformationWeek and Computer Reseller, for $920 million to grab a bigger piece of the fast-growing U.S. technology publications market. United would pay $39 a share in cash for CMP, a 15% premium to CMP's closing price Wednesday. It said it plans to boost spending to develop its Internet business by selling shares in a company it would form with its own units and pieces of CMP.
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