United Business Media has announced that 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 Limited, UBM’s joint venture with Global Sources Ltd. in which UBM has a 39.9% interest and Global Sources has a 60.1% interest. UBM received a cash consideration of US$4 million from eMedia Asia.
UBM acquired the EDN titles as part of its acquisition of Canon Communications, which completed in October 2010. EDN China and EDNChina.com claim to have more than 400,000 registered online members and 40,000 subscribers to the print and digital edition magazine.