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Mecom gets offers for Dutch, Polish ops; says ad rev falls further

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Jan 11 (Reuters) - European publishing group Mecom Group Plc received offers for parts of its operations in the Netherlands and Poland, and the company said it expected pressure on earnings to continue in 2013 due to declining advertising revenue.

Mecom, which owns more than 250 printed titles and 200 websites, also got expressions of interest for its business in Denmark and the company said it would invite a small number of potential buyers to conduct due diligence shortly.

On offers for its Polish operations, Mecom said it was in talks with one party.

Mecom, whose CEO stepped down in September, has been undertaking a strategic review of its business, including potential asset disposals, as it struggles with a fall in advertising revenue in its core markets that include Denmark and Poland.

Total advertising revenue fell 17 percent for the year ended Dec. 31, the company said on Friday. It estimated core earnings at about 105 million euros ($140 million).

The company, which had about 130 million euros in debt at the end of December, said it was in talks with lenders to extend the term of its current bank facilities by one year to Oct. 31, 2014.

Shares in the company, which have fallen 60 percent in the past year, were flat at 81.75 pence at 0812 GMT on the London Stock Exchange.

http://www.globalpost.com/dispatch/news/thomson-reuters/130111/mecom-gets-offers-dutch-polish-ops-says-ad-rev-falls-further