Centaur Media (AIM:CAU) shares rose 6% after it agreed to sell titles including Marketing Week to Haymarket Media Group for £3.9 million in cash.
The transaction, involving the sales of Festival of Marketing and Creative Review, is part of Centaur’s ongoing strategic review aimed at maximising shareholder value.
Following the sale, continuing operations will focus on Econsultancy and The Influencer Group.
In July, it sold its MiniMBA business and earlier this month announced the disposal of The Lawyer for £43 million on a cash-free, debt-free basis.
Net proceeds from the sales to Haymarket will contribute to a pro forma cash balance of approximately £71 million, with the board planning to consult shareholders before determining how capital will be returned.
Centaur described Haymarket as a suitable acquirer to steward the brands and their teams into their next growth phase.
Executive Chair Martin Rowland said: “Today's announcement represents further progress on our strategic review in Centaur's pursuit to maximise shareholder value.”