BRITISH COLUMBIA

GVIC sells non-core trade publications for $20 million to Annex and Newcom

01/23/2015 12:12 EST | Updated 03/25/2015 05:59 EDT
VANCOUVER - GVIC Communications Corp. (TSX:GCT) says it's selling a group of its trade publications for $19.65 million to Annex Business Media and Newcom Business Media Inc.

Along with numerous industry-specific publications and related digital assets, the deal includes Scott's Directories.

Vancouver-based GVIC says it will retain the Northern Miner mining information group along with other information and publishing assets within a more focused selection of industries.

It says the global agriculture, energy and mining sectors will be the main areas of growth for the company, given Canada's presence in the natural resource markets.

Besides Northern Miner, GVIC is keeping the ERIS environmental risk information business and Food in Canada business, which were part of the trade publication group.

GVIC say it's selling specialized business publications aimed at the automotive, construction, manufacturing, transportation, occupational health, communications, dental, insurance, forestry and travel/meetings industries.