Press Releases

For Immediate Release
Contact: Melinda M. Bascone
Director of Marketing
Carter Ledyard & Milburn LLP


-Deal Creates Leader In High-Tech Business-to-Business Information-

NEW YORK, May 4, 1999 -- The Wall Street law firm Carter, Ledyard & Milburn announced today that it is representing United Business Media plc in its acquisition of CMP Media Inc. United Business Media on April 29 announced the signing of a merger agreement that contemplates an agreed tender offer of $39 per share for NADSAQ-listed CMP Media Inc., representing a net total cash consideration of $920 million (after deducting cash on hand of $27 million). CMP Media is a leading US-based publisher of high-tech trade and end-user magazines and online content provided through its CMPNet web sites serving the technology sector.

"We are pleased to have assisted our client United Business Media with this exciting combination of its Miller Freeman subsidiary with CMP Media's leading technology publications and online content. A coordinated team effort with United and its other advisors allowed a swift conclusion of negotiations, and we look forward to helping with the integration of these complementary businesses and the development and financing of the CMPNet online business," said Jim Abbott, the Carter, Ledyard & Milburn corporate partner who represented United Business Media in the transaction.

Carter, Ledyard & Milburn attorneys involved in this acquisition include corporate partner James E. Abbott, tax partner Howard J. Barnet, ERISA counsel Patricia Matzye, and associates Ana L. Acena, Sergio M. Alegre, Steven N. Brautigam, Kristen M. Caione, William J. Geller, Ronald L. Israel, Renita M. Jolley, Austin D. Keyes, Trygve E. Kjellsen, Brewster Pettus, Melinda Poon, Sandra Rizescu, Andris J. Vizbaras, Kimberly A. Williams and Rina Yano.

Individuals from United Business Media's legal department who were involved in negotiations include Jane Stables, Group Legal & Personnel Director and Damian Titman, Group Legal Advisor in London; and Anne W. Gurnsey, Chief Counsel & Secretary of United Business Media plc in New York.

United Business Media plc (London Stock Exchange: UNWS.L; NASDAQ: UNEWY) is an international media and information group based in the UK with three main divisions. Its business services division contains Miller Freeman, the international market research company United Information Group, PR Newswire, the world's leading distributor of full text news releases, and leading photo library VCG. Its UK broadcasting and entertainment interests include ITV licenses Meridian, Anglia and HTV, a 29 per cent stake in Channel 5, and a fast growing production business. In consumer publishing, it owns Express Newspapers and advertising publications in the UK, as well as UAP Inc., the leading publisher and distributor of free pick-up advertising publications in the US. Further information may be found at

Miller Freeman, a wholly owned subsidiary of United Business Media plc, is the world's largest trade show organizer and a leading publisher of technical and industry-specific magazines. The company has divisions in Asia and Europe as well as the U.S. and produces more than 370 exhibitions and conferences and nearly 400 publications, including 270 magazines and an increasing portfolio of digital media services. Further information may be found at

CMP owns many of the most prominent brands in computing and electronics print publishing including InformationWeek, Computer Reseller News (CRN) and Electronic Engineering Times (EET) and operates 40 leading online sites under the CMPNet brand at CMP also has a number of information-rich database, conference, research and product testing businesses. CMP's 1998 revenues were $478 million.

Carter Ledyard & Milburn LLP (, established in 1854, has approximately 90 attorneys and has been headquartered on Wall Street since its founding. Carter Ledyard's general practice includes corporate, securities, mergers and acquisitions, broker-dealer, on-shore and off-shore hedge and other alternative investment funds, private equity, litigation, intellectual property, environmental, employment, media and technology, immigration, investment regulation, antitrust, art law, trusts and estates, maritime, ERISA, tax-exempt organizations, real estate, tax and bankruptcy. A significant part of the firm's practice involves representing overseas-based clients and their U.S. affiliates, financial institutions and other financial services providers, governmental entities and media and technology clients.

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