Fido Magazine considers acquisitions ahead of planned float


Daniel Corby CEO 118 Group Holdings plc is on the acquisition trail for regional publishing businesses ahead of massive growth plans for 2007 for Fido Media, the publishing off-shoot


[UKPRwire, Fri Dec 08 2006] Daniel Corby, CEO 118 Group Holdings plc seeks acquisitions in Regional Magazine business to grow Fido Magazine business

Speaking about the announcement, Daniel Corby said “118 Group has continued to develop rapidly and the recent launch of Fido Magazine has been an amazing success. We now have issues across Chelmsford, Brentwood and Billericay and believe we can launch across a further 80 towns during 2007, with more launches planned for January.

Fido Magazine is a local advertising led publication with an editorial bias on show business and celebrities. The magazine is the premium free to pick up advertising led magazine in all areas that it operates.

Whilst we could grow Fido from the ground up with new launches month after month, the acquisition of existing magazine businesses is something we are exploring. There are many good ones out there that could simply be bolted on to the group and re - branded in time.

118 Group Holdings plc includes such business units as 118trades, 118gethitched, 118telecoms, Fido Magazine and Tasty Mobiles, a new b2b mobile offering selling mobile phone contracts for ‘3’ and the other mobile networks”

Daniel Corby continued “The group is now starting to think and act like a plc ahead of the planned float and has recently made some high profile appointments including business veteran Richard Allan, the former CEO of Perry Group plc as Chairman, Hugh Craen, the founder and mastermind of Potential Finance Group plc which floated on AIM in 2002. Hugh joins the business as a non executive director, Peter Hill as Group FD, who joins from Dorma Door Controls Limited, Scott Barker as Head of Risk, previously from World Pay and Meta Charge. In addition, Ian McLachlan, the recently retired head of Trading Standards of Hertfordshire, who has become Head of Ethics for the business and will oversee the way the business manages relationships with shareholders, staff, customers and suppliers. The business is now in talks with a former Director of Yellow Pages with regards to taking a board position with 118 Group Holdings plc. Further statements will follow in due course”

Notes to editors:

118 Group Holdings plc successfully completed pre IPO fund raising exercises in October 2006 ahead of the planned AIM float and is growing ahead of forecasts. Last month the business announced the creation of 300 new jobs in Chelmsford and is recruiting rapidly. A third call centre for Chelmsford is currently at the planning stage following an offer being accepted by landlords for additional space of 17,500 square feet.

You can read more about the business at www.the118group.com

Other websites of the group include;

www.118trades.com
www.118gethitched.com
www.tastymobiles.com
www.carauto.co.uk
www.fidolocal.com
www.the118group.com




Company: 118 group plc


Contact Name: Bright Spark PR

Contact Email: dan@the118group.com

Contact Phone: 01245 422050

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