Emap says it is open to takeovers

UK publisher Emap has stepped up efforts to find a buyer for its businesses, declaring it is open to takeover bids.

The radio and magazine group said it had received "good interest" from media, and private equity companies.

But Emap added that the "offer period is not a consequence of any proposal received to date".

Emap, which owns magazines including Closer, FHM and Heat, is facing stiff competition in the consumer market.

It has been looking at ways of boosting its business as many readers turn to the internet, and away from more traditional forms of media.

Earlier this year, Emap said that it was considering breaking up the firm or spinning off units as part of its strategic review to give shareholders the best deal.

In May, former Emap boss Tom Moloney left the firm, which also owns radio stations Magic and Kiss, "by mutual agreement" after 26 years as chief executive.