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Daily Mail & General Trust (DMGT) has acquired New Scientist in a whopping £70m cash deal.

FTSE 100 Rallies Ahead Of Budget BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - U.K. stocks were sharply higher on Wednesday as Chancellor of the Exchequer, Rishi Sunak, delivers his budget. It is likely that the furlough scheme will be extended until the end of September to help protect jobs as restrictions are gradually lifted in the months ahead. The benchmark FTSE 100 jumped 81 points, or 1.2 percent, to 6,695 after gaining 0.4 percent the previous day. Miners Anglo American, Antofagasta and Glencore rose 1-2 percent while oil & gas firm BP Plc advanced 1.7 percent and Royal Dutch Shell added 1....

The New Scientist has been sold to Daily Mail owner DMGT for £70m. The weekly science magazine and website was owned by a consortium of individual investors led by Sir Bernard Gray. Editor Emily Wilson told Press Gazette in October how the title had launched newsletters, a podcast, a Youtube series and explored new commercial opportunities online since the global pandemic hit in March. It has 40 journalists and makes 75% of its revenue from subscriptions. She said: “The two biggest stories in the world right now are climate change and Covid-19, and they’re both in our wheelhouse. So ther...

Daily Mail owner buys New Scientist magazine for €70m Updated / Wednesday, 3 Mar 2021 08:34 Daily Mail and General Trust wants to build out its subscriptions and digital offerings The owner of Britain's Daily Mail newspaper acquired science and technology magazine New Scientist for £70m in cash, as it looks to build out its subscriptions and digital offerings.  Daily Mail and General Trust said today its consumer media division bought the publication from a consortium of investors led by New Scientist owner Bernard Gray.  "New Scientist is a world-renowned publication loved by its reade...

Daily Mail And General Trust Acquires New Scientist For GBP 70 Mln LONDON (dpa-AFX) - Daily Mail & General Trust Plc. (DMGT.L) said that its Consumer Media business, dmg media, has acquired New Scientist, science publishing title, from a consortium of individual investors led by Bernard Gray, for 70 million pounds in cash. New Scientist has a large and growing international readership, with a weekly circulation of about 120,000, of which just over half are UK-based. In 2021, the business is expected to generate cash operating income and operating profit of about 7 million pounds and revenues...