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United Business Media Ltd. (UBM.LN) said Monday its subsidiary, Canon Communications LLC, has transferred Canon Communications Asia Pte. Ltd. and Beijing Reed Advertising Services Co., Ltd. - which together own EDN China, EDN Asia and certain associated titles - to eMedia Asia Ltd., UBM's joint venture with Global Sources Ltd. (GSOL) for $4 million.
-UBM has a 39.9% interest in the joint venture and Global Sources has a 60.1% interest.
-UBM shares closed Friday at 617 pence valuing the company at GBP1.51 billion.
-By Ian Walker, Dow Jones Newswires; 44-20-7842-9296; email@example.com