US unit is dragging down Emap's earnings

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By Peter McCready Concerns about the lack of fundamental top-line growth in Emap's core mag...

By Peter McCready Concerns about the lack of fundamental top-line growth in Emap's core magazine businesses have prompted broker Commerzbank to put a reduce recommendation on the publisher. The group is reviewing its strategic options, particularly the future of Petersen, the troubled US magazine arm acquired three years ago where profit expectations have halved. The broker said the US unit has been a significant drag on the company's earnings, missing all nine of the market's forecasts and has also been a major drain on the management's time. As a consequence, and in ta...

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