Arabian Business reports that Dubai’s publishing house, The Media Factory, is understood to be in a critical financial situation, having laid off many of its staff in the recent months and losing several of its contracts. The report stated that Mediaquest are currently in talks to acquire TMF, and are now negotiating over the price. However, TMF Director Russell Frame flatly denied negotiations were taking place.
Over the last three years TMF has lost contracts for, or ceased printing, many of its magazines, including Thai Airways inflight magazine Sawasdee, football magazine Four Four Two, and contract titles published on behalf of Emaar, Etisalat, the Kempinski hotel chain and the UAE’s Roads and Transport Authority.
 
In addition to its business magazines, the list of titles currently published by TMF includes Autocar, F1 Racing, Dubai Mall magazine and Airleron, an inflight magazine for private jets.  

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Omnicom Media Group will be holding its first annual event on innovative approaches in media this week, bringing world-class thinking to media and marketing professionals. The forum will be held in both Dubai and Abu Dhabi on November 8th and 9th.

The Innovation Forum will introduce a Presidential Debate, where the audience will be voting for campaigns based on the arguments put forward, a half-day program designed to stimulate the audience and the event is by invitation only.

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Mediaquest Corp has acquired the publishing and events divisions of Gray Business Communications in a 'multi-million dirham' deal. The deal takes effect from January 2, 2008. It will add a number of brands to the Mediaquest's portfolio including the Gulf Marketing Review, GMR-Online, Al Tasweeq Al Arabi and RaceWeek.

Mediaquest also takes over a number of specialist sports publications in addition to the GBC Events division.

Read more at AMEInfo.com.