News blog
Electric Word
- BY: Andrew Hore |
- POSTED: 12/09/2007 |
Education and sport information publisher Electric Word is taking on the management of three education magazines.
The company will receive a minimum fee of £300,000 per quarter plus an initial integration fee. It also has an option to buy the magazines. It is exerciseable between 1 December 2007 and 11 September 2010. Electric Word would pay £875,000 in convertible preference shares that could be converted to shares at 13.25p each.
Electric Word recently took a stake in MyChild magazine and it is interested in increasing its exposure to magazines in its niche sectors.
A reassuring statement said that trading was in line with expectations.
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