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 there genuinely has never been a better time to sign up for science mag.”
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 readers. 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, DMGT Chairman Jonathan Harmsworth said.
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 are expected to exceed 20 million pounds.
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TRADING UPDATES: Capita sells Irish unit; Daily Mail buys science mag
Wed, 3rd Mar 2021 19:14
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:
HSBC Holdings PLC - FTSE 100-listed Asian-focused lender - Intends to issue USD1.00 billion 4.000% perpetual subordinated contingent convertible securities and USD1.00 billion 4.700% perpetual subordinated contingent convertible securities. The 4% securities are callable in 2026, while the 4.7% can be called in 2031. The securities will be listed in Dublin.
Carnival PLC - Miami, Florida-based cruise ship operator - Says Princess Cruises extends pause of cruise vacations on roundtrip Southampton sailings through September 25, 2021. Notes, for UK guests, Princess Cruises will launch a series of new short cruises departing in late summer on Regal Princess and Sky Princess from Southampton that will go on sale later this month. We share in o