Homes Overseas Sold by Trinity Mirror

Homes Overseas magazine has been sold back to Globespan Media by the UK’s Trinity Mirror Group.

The announcement comes just 18 months after the media giant purchased the independent media company in November 2007. The original deal involved Trinity Mirror acquiring Globespan for an initial consideration of £0.9 million and a deferred consideration of up to £5 million wholly conditional on the achievement of specified operating profit targets over the following 30 months. At that time, Globespan was expected to generate revenues of at least £4 million in its first year of ownership.

According to reports on globaledge.co.uk, Trinity Mirror has sold back all assets except the website homesoverseas.co.uk to the directors of Globespan Media.

Future strategy for homesoverseas.co.uk is reportedly being overseen by Trinity Mirror’s Head of Digital, David Black, and the portal will now form part of the Trinity Mirror Digital Division which also includes zoomf.co.uk, smartnewhomes.com and email4property.co.uk.

According to globaledge.co.uk, Globespan Media has retained the rights to publish the Homes Overseas magazine but it is currently under “strategic review”. They quote an anonymous source as saying that it is unlikely the publication will continue beyond August as the editorial team has allegedly been made redundant and recent print runs were down to 2500 from a high of over 20,000 during the overseas property boom.

Alongside reviewing the future of Homes Overseas magazine, Globespan Media will continue to publish it’s original products, Show House magazine and run the What House Awards, despite these products struggling to make a profit since being acquired by Trinity Mirror. Globespan Media retains seven employees including the four original directors: Derek Smith, Rupert Bates, Ian Cunningham and Daniel Hill.

In the initial purchase of Globespan, Trinity Mirror said: “Homes Overseas is a consumer brand which has served this market since 1965 and is well positioned to take advantage of the increasing amount of buyer research now carried out on line”. It appears that Trinity Mirror are still interested in the online possibilities of the brand, having retained only the website, homesoverseas.co.uk.

1. Homes Overseas Magazine Goes Online

   In June of this year Homes Overseas magazine was sold back to Globespan Media by the UK’s Trinity Mirror Group. Now reports are that Globespan will cease printing the magazine, and it will become solely an online magazine. ...

2. New Video Ads at homesoverseas.co.uk

   Property portal and overseas property news website homesoverseas.co.uk has launched a new video advertising service, dubbed “HO TV”....

3. Trinity Mirror buys Zoomf.com

   Trinity Mirror, which already owns property websites such as smartnewhomes.com, email4property.co.uk and Fish4Homes, has acquired UK property search engine zoomf.com. ...

4. zoomf.com Parent Company Sinks

   Last week UK property search engine zoomf.com was bought by Trinity Mirror. This week reports are that its parent company, Arclight Media Technology, has been put into administration. ...

5. Rightmove Overseas Joins AIPP

   Rightmove Overseas have announced that they have joined the Association of International Property Professionals (AIPP), the trade body set up to promote professionalism and best practice in overseas property sales and marketing....