CMP Media and Global Sources Complete Joint Venture Agreement
Launching Asian Versions of EE Times and Electronic Buyers' News
CMP Media Inc., a leading provider of high-tech news and information -- a subsidiary of United News & Media plc -- and Global Sources, Ltd., a leading B2B market maker and e-commerce solutions provider for the global trade community, have completed a joint venture which will supply new technology content, media and e-commerce solutions to more than 150,000 technology decision makers in Asia. Beginning October 2000, CMP's EE Times and Electronic Buyers' News will be widely circulated throughout Asia for the first time.
The joint venture combines the broad-based licensed content from CMP Media's Electronics Group with the circulation, sales and distribution infrastructure of Global Sources. "Asia is now the world's second largest market for electronic components and the fastest growing one," said Steve Weitzner, president of CMP Media's Electronics Group and a director of the joint venture. "Through this new relationship, we will bring our integrated media strategy including flagship print, online and events brands to the region's electronics professionals in partnership with Asia's publishing leader. Through Global Sources' infrastructure, we can offer our customers immediate access to a large, highly qualified and audited audience in China, Hong Kong, Taiwan, Korea and other Asian electronics centers, with native language publications, web sites and events," he added.
"Global Sources' multi-lingual web sites and titles will be relaunched and integrated into CMP brands," explained Mark Saunderson, a member of Global Sources management board and president of the joint venture. For example, the monthly magazine Asian Electronics Engineer (created in 1987) will be re-branded EE Times Asia and Electronics News for China (created in 1985) will be re-branded Electronic Buyers' News (EBN) China. The new venture will distribute over 35,600 copies of a local language EBN China Edition (simplified Chinese) and over 70,100 copies of local language editions of EE Times Asia (simplified Chinese for China, traditional Chinese versions for Hong Kong and Taiwan, Korean and English). The EE Times Asia English edition will be distributed to the ASEAN countries such as Singapore, Malaysia, Indonesia and Philippines, as well as incidental distribution in India, Australia and New Zealand.
China is central to the joint venture strategy. "The Asian technology market is one of the most dynamic in the world and it should benefit from China's membership in the WTO. Our joint venture with CMP will help to drive that growth by providing world-class content and transactional e-commerce services," according to Mark Saunderson. Dataquest research forecasts that semiconductor demand from Asia Pacific will be approximately US$43 billion this year, doubling by 2007.
About CMP Media Inc.
CMP Media Inc. (http://www.cmpnet.com/) is a leading high-tech media company providing essential information and marketing services to the entire technology spectrum -- the builders, sellers and users of technology worldwide. Capitalizing on its editorial strength, CMP is uniquely positioned to offer marketers comprehensive, integrated media solutions tailored to meet their individual needs. Its diverse products and services include newspapers, magazines, Internet products, research, direct marketing services, education and training, trade shows and conferences, custom publishing, testing and consulting.
About Global Sources
Global Sources (NASDAQ: GSOL) is a leading infomediary and neutral B2B market maker for volume buyers and suppliers worldwide. Global Sources has been operating for over 29 years and in Mainland China for more than 15 years represented in more than 30 locations. The Company has developed one of the world's most comprehensive databases of export products and suppliers, in twelve market segments, including: Computer Products, Electronic Components, Electronics, Timepieces, Gifts and Home Products, Fashion Accessories, Telecom Products, Hardware, Security and Safety, Ceramics and Porcelain, Food and Beverage and Trimmings and Fabrics. Global Sources community currently includes over 203,000 active buyers who are able to locate over 88,200 supplier contacts from more than 90 countries and source over 83,700 products per day, with detailed specifications and color images. For further information, please visit http://www.corporate.globalsources.com.
SOURCE: United News & Media
Contact: (Media) Nigel Main, +44-207-579-4060, or (Analysts)