Cirrus Media Quietly Offloads Another Asset

Cirrus Media Quietly Offloads Another Asset
SHARE
THIS



B2B publisher Cirrus Media has quietly offloaded another of its assets yesterday, Medical Media, bringing the tally of disposal events since John King took over as CEO in July 2014 to six.

It has sold its Media and Travel group to the Misfits Media Company, Lawyers Weekly to Sterling Media, Hospitality Magazine and Directory to Intermedia, Hotfrog to Yodel, its whole industrial portfolio of magazines and directories, including Ferret, to Prime Creative Media, and now, Medical Media to a group called Medical Channel.

Notably the announcement from Medical Channel, mentioned nothing from Cirrus Media, and Cirrus itself has not gone public on the disposal.

The disposal signals a slight change in the Cirrus strategy of selling off non-core assets, as Medical Media is a key piece of its highly profitable healthcare division, a digital business unit which provided information live onto the screens in the back rooms of GP offices. Until now, Cirrus had been selling anything it could which didn’t seem core to what CEO John King has said are his key assets of Healthcare and Financial Services.

King did say in an interview recently however that”‘everything was for sale” at the right price.

Medical Media might have been the right price for Cirrus and just too tempting. Market rumours have the sale price to Medical Channel of between $1.5m and $2m. If that is true, then it is likely that Cirrus has made a reasonable return on Medical Media. Revenues of the business are believed to have only been in the realm of $500-$600k.

But it does beg the question, is Cirrus now prepared to sell off its crown jewel, its healthcare group, piecemeal, like the rest of the company?

For Medical Channel it may well have been worth it from a strategic point of view. This business has up to 800 screens complete with wifi infrastructure in the waiting rooms of GP surgeries already so the addition of 700 or so screens on the other side of the fence – inside GP tea rooms essentially – could be a powerful synergy for that business.

Please login with linkedin to comment

Latest News

Fairfax Appoints Philippa Walker As Head Of Travel
  • Media

Fairfax Appoints Philippa Walker As Head Of Travel

Following the recent restructure of its commercial division, Fairfax Media has appointed Philippa Walker to oversee the Travel vertical within Australian Metro Publishing (AMP) business which includes The Sydney Morning Herald, The Age, The Australian Financial Review, Brisbane Times, WAtoday and more.  In late 2017, the commercial teams were reshaped with a vertical focus under […]

Australia’s OOH Industry Grows Revenue For Eighth Consecutive Year
  • Advertising
  • Media

Australia’s OOH Industry Grows Revenue For Eighth Consecutive Year

The local out-of-home (OOH) industry increased its net media revenue by 6.03 per cent in 2017 to $837.1 million, signifying its eighth consecutive year of growth. According to figures released by the Outdoor Media Association (OMA), net revenue for the OOH industry grew 4.5 per cent in the final quarter of 2017 to $252.7 million. Digital […]

SpotX Appoints Gavin Buxton As Asia MD
  • Advertising

SpotX Appoints Gavin Buxton As Asia MD

Video advertising platform SpotX has announced it has appointed Gavin Buxton as managing director of Asia to lead the company’s expansion in the region. Buxton has over 17 years’ global experience in the digital advertising space, having worked in leadership roles at tech and publishing companies, including Microsoft, Turner Broadcasting, and LinkedIn, with the last […]

Big Mobile Doubles Down On Ad Tech & Rebrands
  • Advertising
  • Technology

Big Mobile Doubles Down On Ad Tech & Rebrands

B&T Awards 2017 finalist Big Mobile has unveiled a fresh look to reflect its new ad tech credentials. The company successfully pivoted its business from ad network to mobile ad tech vendor when it announced a joint venture (JV) with Widespace in October last year. As a result of the business changes, Big Mobile wanted […]

March One Appoints New Senior Account Manager
  • Advertising

March One Appoints New Senior Account Manager

Independent ad agency March One has appointed a fresh face to the team, with Melanie Tozer to reinforce its mission to put humans first as a senior account manager. Tozer (pictured above), an up-and-coming talent from New Zealand, will align her extensive experience in FMCG marketing with March One, having worked on accounts for Bunnings […]

What To Expect From The App Economy In 2018
  • Opinion
  • Technology

What To Expect From The App Economy In 2018

Here's an insightful, authoritative synopsis of the app economy. So, you're right, it wasn't written by a B&T journo.

Opinion

by B&T Magazine

B&T Magazine