Daily Mail group acquires New Scientist brand in £70m deal
Daily Mail and General Trust (DMGT) has announced the acquisition of a global science publication.
The London-based publisher’s consumer media business, dmg media, has acquired New Scientist in a £70m deal.
New Scientist has a weekly circulation of approximately 120,000, of which just over half are UK-based, and derives 75 per cent of its revenue from subscriptions.
DMGT acquired the publication from a consortium of individual investors led by Sir Bernard Gray, and hopes that the acquisition will allow it to expand into the subscriptions market.
Lord Rothermere, chairman of DMGT, commented: “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.”
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