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January 21, 2009

Expo Media in administration

Expomedia Group, whose subsidiary companies include Conference News publisher Mash Media, and Expomedia Events UK, has gone into administration.

Its board has appointed an administrator following a "significant reduction in revenues", according to a statement on Expomedia Group's website.

The board's discussions with potential equity investors, shareholders, bankers and key creditors have failed to secure financial backing for the group.


"Until recently, the directors were hopeful that funding would be secured," the statement said. "The company has been unable to secure the required funding and it is with regret that the directors have decided that the company should be put into administration and has appointed the administrators."

Expomedia Group owns 51% of Mash Media's parent company, Expomedia Events UK.

The group also owns a number of venues in Europe and continues to trade.

It would appear that Mash Media's future is assured for now as managing director, Julian Agostini, has allegedly already bought back the publisher's shares.

More reaction to this story to come...


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