The Week: City news - Emap sold to GMG/Bauer

Emap has sold its consumer magazine and radio divisions, including Heat and Grazia magazines, to the German publishing company H Bauer for £1.14 billion and has offloaded its business-to-business division to Guardian Media Group and Apax for around £1.3 billion.

The Bauer deal is conditional on the approval of Emap shareholders this month. Should the deal be approved, the business-to-business sale will follow. The sales will mean the end of Emap, which launched in 1947.