Maxwell Communications Corporation
Encyclopedia
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
.
to form the British Printing Corporation. In 1967 it acquired a majority stake in Haymarket Group
from Michael Heseltine
. During the 1970s the Company was involved in many disputes with trade union
s. In 1978 such a dispute led to The Times
and Sunday Times not being published for 10 months.
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. 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. It went on to buy Science Research Associates
and the Official Airline Guide
later that year.
The Company went into administration in 1991 following the death of Robert Maxwell. Its properties were sold to various media companies.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
media
Mass media
Mass media refers collectively to all media technologies which are intended to reach a large audience via mass communication. Broadcast media transmit their information electronically and comprise of television, film and radio, movies, CDs, DVDs and some other gadgets like cameras or video consoles...
business. It was listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and was a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
.
History
The Company was established in 1964 when Hazell Sun merged with Purnell & SonsPurnell and Sons
Purnell and Sons was a small family printer based in Somerset which merged with other printers to become a large national publisher.- History :...
to form the British Printing Corporation. In 1967 it acquired a majority stake in Haymarket Group
Haymarket Group
Haymarket Media Group is a privately owned media company headquartered in London, United Kingdom. It has offices in Australia, Belgium, China, Germany, India, Japan, Singapore and the United States....
from Michael Heseltine
Michael Heseltine
Michael Ray Dibdin Heseltine, Baron Heseltine, CH, PC is a British businessman, Conservative politician and patron of the Tory Reform Group. He was a Member of Parliament from 1966 to 2001 and was a prominent figure in the governments of Margaret Thatcher and John Major...
. During the 1970s the Company was involved in many disputes with trade union
Trade union
A trade union, trades union or labor union is an organization of workers that have banded together to achieve common goals such as better working conditions. The trade union, through its leadership, bargains with the employer on behalf of union members and negotiates labour contracts with...
s. In 1978 such a dispute led to The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
and Sunday Times not being published for 10 months.
In July 1981 Robert Maxwell
Robert Maxwell
Ian Robert Maxwell MC was a Czechoslovakian-born British media proprietor and former Member of Parliament , who rose from poverty to build an extensive publishing empire...
launched a dawn raid on the Company acquiring a stake of 29%; the following year he secured full contol of it. 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
Macmillan Publishers (United States)
Macmillan Publishers USA, also known as Macmillan Publishing, is a privately held American publishing company owned by the Georg von Holtzbrinck Publishing Group. It has offices in 41 countries worldwide and operates in more than 30 others....
, a large US
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
publisher, in 1988. It went on to buy Science Research Associates
Science Research Associates
Founded in 1938, SRA or Science Research Associates Inc. is a Chicago-based publisher of educational materials and schoolroom reading comprehension products. Early on, it had a trade and occupational focus...
and the Official Airline Guide
Official Airline Guide
OAG, formerly Official Airline Guide, is a United Kingdom based business providing aviation information and analytical services sourced from its proprietary airline schedules, flight status, fleet, MRO and cargo logistics databases....
later that year.
The Company went into administration in 1991 following the death of Robert Maxwell. Its properties were sold to various media companies.