The company was established in 1964 when Hazell Sun merged with Purnell & Sons to form the British Printing Corporation.[1] In 1967, the British Printing Corporation merged its magazines into Haymarket Group.[2] During the 1970s the British Printing Corporation was involved in many disputes with trade unions.[3] In 1978 such a dispute led to The Times and Sunday Times not being published for ten months.[3]
Robert Maxwell's Acquisition and Company Restructuring
In July 1981, Robert Maxwell launched a dawn raid on the company, acquiring a stake of 29%; the following year he secured full control of it.[3] He changed the name of the company to British Printing & Communications Corporation in March 1982 and to Maxwell Communication Corporation in October 1987.
The company went into administration in 1991 following the death of Robert Maxwell.[7] Its properties were sold to various media companies. McGraw Hill acquired that part of Macmillan/McGraw Hill it did not already own outright. OAG was acquired by Reed Elsevier,[8] while Macmillan was folded into Simon & Schuster.[9]
In 1999, British courts determined that Coopers & Lybrand had made gross errors during their audits of the Maxwell group of companies and fined Coopers & Lybrand a record £3.3 million.[10]
References
^Records of Hazell, Watson and Viney Ltd, printers, Aylesbury, 1709-c.1991. 17 September 1991.
^ abcPeter Robinson, Chairman and CEO, Obituary, The Times, 15 November 2007.
^"Maxwell Lifts Macmillan Takeover Bid to $86.80 a Share", New York Times, 16 September 1988.
^"Airline Guide being sold to Maxwell", New York Times, 31 October 1988.
^"McGraw-Hill and Maxwell Form Venture". The New York Times. 18 May 1989. Retrieved 24 January 2018.
^"Bankruptcy Explanation By Maxwell", New York Times, 18 December 1991.
^Stanley Ziemba (19 August 1993). "British Firm Near Deal To Acquire Airline Guides". Chicago Tribune. Retrieved 18 September 2015.
^"After 65 years, Free Press to be absorbed into Simon & Schuster flagship". Melville House. 24 October 2012. Retrieved 24 January 2018.
^"Геращенко добился своего: Проверять ЦБ будет Coopers & Lybrand" [Gerashchenko got his way: Coopers & Lybrand will check the Central Bank]. "Коммерсантъ" (in Russian). 6 February 1999. Retrieved 16 July 2021.
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maxwell, communication, corporation, leading, british, media, business, listed, london, stock, exchange, constituent, ftse, index, collapsed, 1991, following, death, titular, owner, plcindustrymediafounded1964defunct1991fateadministrationheadquarterslondon, uk. Maxwell Communication Corporation plc was a leading British media business It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index It collapsed in 1991 following the death of its titular owner Maxwell Communication Corporation plcIndustryMediaFounded1964Defunct1991FateAdministrationHeadquartersLondon UKKey peopleRobert Maxwell Chairman Contents 1 History 1 1 Formation and Turbulent Years 1 2 Robert Maxwell s Acquisition and Company Restructuring 1 3 Administration and Legal Consequences 2 ReferencesHistory EditFormation and Turbulent Years Edit The company was established in 1964 when Hazell Sun merged with Purnell amp Sons to form the British Printing Corporation 1 In 1967 the British Printing Corporation merged its magazines into Haymarket Group 2 During the 1970s the British Printing Corporation was involved in many disputes with trade unions 3 In 1978 such a dispute led to The Times and Sunday Times not being published for ten months 3 Robert Maxwell s Acquisition and Company Restructuring Edit In July 1981 Robert Maxwell launched a dawn raid on the company acquiring a stake of 29 the following year he secured full control of it 3 He changed the name of the company to British Printing amp Communications Corporation in March 1982 and to Maxwell Communication Corporation in October 1987 The company acquired Macmillan Publishers a large US publisher in 1988 4 It went on to buy Science Research Associates and the Official Airline Guide later that year 5 SRA was sold to a joint venture of Maxwell s Macmillan and McGraw Hill the next year 6 Administration and Legal Consequences Edit The company went into administration in 1991 following the death of Robert Maxwell 7 Its properties were sold to various media companies McGraw Hill acquired that part of Macmillan McGraw Hill it did not already own outright OAG was acquired by Reed Elsevier 8 while Macmillan was folded into Simon amp Schuster 9 In 1999 British courts determined that Coopers amp Lybrand had made gross errors during their audits of the Maxwell group of companies and fined Coopers amp Lybrand a record 3 3 million 10 References Edit Records of Hazell Watson and Viney Ltd printers Aylesbury 1709 c 1991 17 September 1991 Haymarket Timeline Archived 2009 03 30 at the Wayback Machine a b c Peter Robinson Chairman and CEO Obituary The Times 15 November 2007 Maxwell Lifts Macmillan Takeover Bid to 86 80 a Share New York Times 16 September 1988 Airline Guide being sold to Maxwell New York Times 31 October 1988 McGraw Hill and Maxwell Form Venture The New York Times 18 May 1989 Retrieved 24 January 2018 Bankruptcy Explanation By Maxwell New York Times 18 December 1991 Stanley Ziemba 19 August 1993 British Firm Near Deal To Acquire Airline Guides Chicago Tribune Retrieved 18 September 2015 After 65 years Free Press to be absorbed into Simon amp Schuster flagship Melville House 24 October 2012 Retrieved 24 January 2018 Gerashenko dobilsya svoego Proveryat CB budet Coopers amp Lybrand Gerashchenko got his way Coopers amp Lybrand will check the Central Bank Kommersant in Russian 6 February 1999 Retrieved 16 July 2021 This article about a media company in the United Kingdom is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Maxwell Communication Corporation amp oldid 1161395781, wikipedia, wiki, book, books, library,
