Publishers merge to become Mediateam
The publishers of two leading technology magazines are to merge to form a new business that will produce a number of trade and lifestyle titles.
Computer Publications of Ireland, known as CPG, publisher of Irish Computer, and Computer Scope Ltd, publisher of Computer Scope, plan to join forces in a deal to be announced later this week.
No money will change hands, according to Billy Huggard of CPG. The two businesses already collaborate on a number of ventures, and decided to merge to cut costs. The new company will be named Mediateam Ltd.
It will produce the two computer magazines, along with retail publication Shelflife, and lifestyle products Wine Ireland, PC Live and Smart Company.
It will also run two technology exhibitions already jointly organised by CPG and Scope, the ICT Expo, which will be held this week and the Toys for Big Boys gadgets show.
There will be no job losses, and the company will employ around 30 people. Most of the savings will come from sharing an office and facilities.
The deal will mean that Irish Computer will be refocused to service the technology trade and suppliers market, while Computer Scope will be aimed at end users in business and industry.
The magazines currently have a combined audited circulation of over 18,000, with Computer Scope accounting for around 10,000 of this.
According to accounts lodged with the Companies Registration Office (CRO), CPG had shareholders' funds of €135,205 at the end of 2003. On the same date, Computer Scope's total net assets stood at €38,290, but it had accumulated losses of €574,914.
Both companies informed their staff of the deal last Friday.