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Industry

The ‘i’ bought for almost £50m

Dmg media, publisher of Daily Mail, has acquired both the ‘i’ national newspaper and its website from its publisher JPI Media for almost £50m.

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Dmg media has bought the ‘I’ newspaper for almost £50m. Image: osde8info (Flikr)

The ‘i’ sells around 170,000 newspapers distributed each weekday and over 190,000 copies of its Saturday iweekend title every week. Its website also attracts around 300,000 browsers each day.

Last year the ‘i’ experienced strong sales with the generation of £11m in cash operating income and operating profit from £34m revenue.

Lord Rothermere, chairman of Daily Mail and General Trust (DMGT) describes the ‘i’ as a “strong cash generator” for the Group.

He comments: “We are delighted to welcome the ‘i’ to our stable of media brands. It is a highly respected publication with a loyal and engaged readership. We are committed to preserving its distinctive, high quality and politically independent editorial style.

“The acquisition of the ‘i’ is both strategically and financially compelling for DMGT and there is scope for potential synergies in the future, notably from dmg media’s existing infrastructure in advertising sales.”

The acquisition of the ‘i’ is both strategically and financially compelling for DMGT and there is scope for potential synergies in the future, notably from dmg media’s existing infrastructure in advertising sales

Looking forward, the company plans to develop the ‘inews’ website which it describes as a “growing digital media asset”.

Paul Zwillenberg, chief executive officer of the group assures that the entire pre-existing editorial team will retain its independence. Discussing ways in which the brand will synergise, he says: “We do expect there to be cost synergies as we believe that dmg media’s existing back-office infrastructure can support the ‘i’, which will deliver some savings.

“Also, there are likely to be some synergies around printing, production and distribution but they will take a little time to come through. In addition, there may be some revenue synergies over time.”

That being said, a review by the UK Competition and Markets Authority is expected to occur soon and as a result, the group is anticipating that the ‘i’ may have to be “held separate” and run independently of the rest of DMGT.

If you have any news, please email carys@linkpublishing.co.uk or join in with the conversation on Twitter and LinkedIn.


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