Media group buys Atalink for an initial €2.6 million

TEN Alps, the London-based television production and media group in which Bob Geldof is the joint largest shareholder, has bought the specialist media, trade magazine publisher and advertising sales company, Atalink, for an initial consideration of £1.76 million (€2.6m).

Another payment of £750,000 (€1.1m) is due to be paid for the net current assets of the company.

The move by Ten Alps — in which Mr Geldof owns between 8% and 10% — is aimed at enhancing its position as a multi-platform media operator across television, internet, print and event organisation.

Atalink produces 25 trade publications in Britain — such as Institute of Insurance Brokers and Pre-School Learning Alliance. Last year, the company generated pre-tax profits of £400,000 (€591,000) on a turnover of £4.5m (€6.6m). The company has been profitable for the last three years. Its contribution to Ten Alps’ balance sheet won’t be seen until the second half of each year, given that Atalink’s main publication dates are in December.

The takeover brings the number of titles under management by Ten Alps to over 450 and strengthens its advertising sales operation to more than 250 staff.