Argus Press
Argus Press was a British publishing company. It was acquired by British Electric Traction (BET) in 1966, and became the publishing arm of that company. It was the subject of one of the most hotly contested Management Buy Outs of the 1980s when a management team led by Kimble Earl, George Fowkes, and Scott Smith secured financing of £207m from forty national and international banks to acquire the UK and US businesses from BET. The acquisition was of particular note as the publisher Robert Maxwell was among the rival bidders, and widely considered as capable of out-witting the management team. Only an eleventh hour intervention by Earl - exposing members of Maxwell's secret consortium as rival newspaper publishers which meant Maxwell would fall foul of the Monopolies Commission - brought success for the MBO team. The new company traded under the style of Team Argus. Its portfolio of businesses included the largest group of paid-for and free weekly newspapers in the UK; an extensive range of business titles in the UK and the USA, and a group of specialist hobby-interest magazines in the UK. Team Argus businesses were sold off to various buyers during the early 1990s.
