Maxwell to Sell Off British Asset

Media magnate Robert Maxwell said today he was selling his British printing interests for up to 300 million British pounds ($540 million) to help pay for his recent purchase of U.S. publisher Macmillan Inc.

He said the management buyout of the BPCC printing interests would free financial and management resources to help his Maxwell Communication Corp. focus on its publishing and information businesses.

Maxwell announced in November he planned to sell off some businesses after his major breakthrough into the U.S. market with the purchase of Macmillan for $2.6 billion and Dun & Bradstreet’s Official Airlines Guide Inc. for $750 million.