Maxwell Communication Corporation
 | |
| Industry | Media |
|---|---|
| Fate | Went into administration |
| Founded | 1964 |
| Defunct | 1991 |
| Headquarters | London, UK |
Key people | Robert Maxwell (Chairman) |
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.
History
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 10 months.[3]
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 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]
The Company went into administration in 1991 following the death of Robert Maxwell.[6] Its properties were sold to various media companies.
References
- ↑ National archives
- ↑ Haymarket: Timeline
- 1 2 3 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.
- ↑ "Bankruptcy Explanation By Maxwell", New York Times, 18 December 1991.