A total of 12 staff at business websites AME Info and SME Info have been made redundant after being bought out by rival publisher Mediaquest, Campaign can reveal.
A further eight members of editorial staff have been offered positions with Mediaquest, of which three have accepted and five have yet to make a decision. It is believed some have landed jobs with AME Info’s sister site, MEED, which has offices in Dubai, London and Riyadh.
Mediaquest did not reveal the value of the acquisition deal with former owners of the site, Top Right Group, a B2B media group.
Alexandre Hawari, co-CEO at Mediaquest, said: “Most of the people made redundant were in administrative roles such as secretary, finance and distribution. It’s always sad to see people who have worked a long time on a brand but I’m running a business and I don’t need two secretaries. The acquisition of both the AME Info and SME Info websites are in line with our growth strategy and commitment to strengthening the position of regional publications.”
Founded in 1993, AME Info and SME Info attract more than 2.4 million unique users each month with daily business news in both Arabic and English.
Duncan Painter, CEO, at Top Right Group, said: “The AME Info and SME Info websites are successful, well regarded brands with a loyal, daily following.
“This sale will enable us to invest back into growth initiatives as we continue to create a platform for growth, particularly internationally. We will continue our growth focus on MEED, our leading subscription content and events business in the Middle East and other fast-growing international territories.”
AME Info and SME Info will be re-designed and will re-launch in September 2013.
Mediaquest’s portfolio includes more than 20 consumer and trade publications, including Gulf Marketing Review, Communicate, Saneou Al Hadath and TRENDS.
