Maxwell Communications Corporation
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| Industry | Media |
|---|---|
| Fate | Went into administration |
| Founded | 1964 |
| Defunct | 1991 |
| Headquarters | London, UK |
| Key people | Robert Maxwell (Chairman) |
Maxwell Communications 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.
[edit] History
The Company was established in 1964 when Hazell Sun merged with Purnell & Sons to form the British Printing Corporation.[1] In 1967 it acquired a majority stake in Haymarket Group from Michael Heseltine.[2] During the 1970s the Company 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 contol of it.[3] He changed the name of the Company to British Printing & Communications Corporation in March 1982 and to Maxwell Communications 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.
[edit] References
- ^ National archives
- ^ Haymarket: Timeline
- ^ 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
- ^ Bankruptcy Explanation By Maxwell New York Times, 18 December 1991
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