Front finds a new home as Highbury goes under
24 January 2006 11:19
SMD Publishing buys Front, HotDog and DVD WorldHighbury House has sold off three of its remaining titles after going into administration late last week.
SMD Publishing has bought Front, HotDog and DVD World three days after Imagine Publishing acquired Highbury's computer magazines for around £7m.
The company, which was briefly chaired by Kelvin MacKenzie, called in the administrators last Friday having racked up debts of more than £40m.
The publisher has been struggling to get itself on an even keel following the failure last year of its plan to sell its consumer magazine division to Future. The Office of Fair Trading refused to clear the deal on competition grounds.
Highbury eventually sold 38 titles to Future, and in August 2005 disposed of its Real Homes magazine to Hachette Filipacchi and closed its two loss-making home interest magazines, Home and Inspirations.
It also found a buyer for its South African operations in September, but despite its best efforts to dig itself out of the mire - and the £1.5m invested by MacKenzie, who became its chairman in September - Highbury today put up the for sale sign on early January.
By Graham Hayday
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