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For sale: ic24
Second hand, two years old, 250,000 users, £25m ono
Trinity Mirror is to sell its ISP, ic24, the newspaper group confirmed today.
The media group said it "no longer regarded [it] as essential to the group's digital media activities".
In the two years the ISP has been up-and-running, usage numbers rose to 800,000 by December 2000 of which 224,000 were active users.
Of course, it's one thing looking to sell the business, it's quite another finding a buyer - especially in this current market. Analysts have reportedly put a price tag of around £25 million on the business.
Elsewhere, the group is to cut its digital media investment from £150 million to around £90 million by 2002.
It reported that its digital media division only returned revenue of £2.5 million for the year - significantly below expectations.
That said, it will continue with its regional "ic" branded Web sites and tie them in more closely with the group's regional newspaper operations. icShowbiz and icSport content will continue to enhance its national newspaper content-specific sites, the company said. ®