Northcliffe acquires CIN and Admag, subsidiaries of Adscene

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Tuesday 29 June 1999

Further to the announcement of the recommended offer for Adscene by Denitz Media Limited, Northcliffe Newspapers Group Limited (Northcliffe), a wholly-owned subsidiary of DMGT, has agreed to acquire Central Independent Newspapers (CIN) and Admag Newspapers Limited (Admag), subsidiaries of The Adscene Group plc (Adscene).

CIN publishes a paid-for weekly newspaper in Tamworth and a series of weekly free newspapers in the West Midlands. Admag publishes advertising periodicals in Hereford and Shrewsbury.

The acquisition is conditional upon the recommended offer made by Arthur Andersen Corporate Finance, on behalf of Denitz Media Limited, a newly formed company backed by 3i, to purchase the entire issued share capital of Adscene, being declared unconditional.

The acquisition is also conditional, inter alia, upon clearance from the Secretary of State for Trade and Industry for the transfer of the newspaper assets and titles of CIN and its subsidiaries to Northcliffe.

The acquisition enhances Northcliffe's position as a leading UK regional newspaper publisher and reinforces DMGT's commitment to the sector. The consideration of £44.5 million will be satisfied from existing DMGT resources and borrowing facilities.

For further information please contact:
Owen Davies, Finance Director, Northcliffe Newspapers - 0171 400 1100
Nicholas Gold, Managing Director, ING Barings Limited - 0171 767 1000