Acquisition of New Scientist (1172619)
03 March 2021 - 6:00PM
UK Regulatory
Daily Mail and General Trust plc (DMGT)
Acquisition of New Scientist
03-March-2021 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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3 March 2021
Daily Mail and General Trust plc (DMGT)
Acquisition of New Scientist
DMGT announces that dmg media, its Consumer Media business, has acquired New Scientist, one of the world's leading
science publishing titles, from a consortium of individual investors led by Sir Bernard Gray, for GBP70m cash
consideration.
New Scientist has a large and growing international readership, with a weekly circulation of approximately 120,000, of
which just over half are UK-based. The business also has a high-quality revenue base with about 75% derived from
subscriptions. In 2021, the business is expected to generate cash operating income and operating profit of
approximately GBP7m and revenues are expected to exceed GBP20m.
Lord Rothermere, Chairman of DMGT, said: "New Scientist is a world-renowned publication loved by its readers, and we
are both thrilled and proud to welcome it to the DMGT family. They are a specialised and talented team who showcase
the best of science journalism, bringing integrity, curiosity and craftmanship to their work. We are very much looking
forward to supporting their exciting plans to grow as the go-to publication for anyone interested in the scientific
world around us."
Paul Zwillenberg, DMGT CEO, added: "The acquisition of New Scientist marks an exciting new addition to the DMGT
portfolio and reflects our disciplined approach to acquisitions. It is a natural step in our consumer strategy to
improve the quality of our revenues through building up subscriptions and digital capabilities. We are committed to
supporting the talented team and their plans for the future and are confident that the business is well positioned for
future growth."
Enquiries
Investors:
Tim Collier, Group CFO +44 20 3615 2902
Adam Webster, Head of Investor Relations +44 20 3615 2903
Media:
Doug Campbell, Teneo +44 7753 136628
Paul Durman, Teneo +44 7793 522824
About DMGT
DMGT manages a portfolio of companies that provide businesses
and consumers with compelling information, analysis, insight,
events, news and entertainment. The Group takes a long-term
approach to investment and has market-leading positions in consumer
media, insurance risk, property information, education technology
and events & exhibitions. In total, DMGT generates revenues of
around GBP1.2bn.
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ISIN: GB00BJQZC279
Category Code: ACQ
TIDM: DMGT
LEI Code: 4OFD47D73QFJ1T1MOF29
Sequence No.: 94686
EQS News ID: 1172619
End of Announcement EQS News Service
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