Acquisition of Bargain Pages Media
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Thursday 2 September 2004
Northcliffe Newspapers Group, the regional newspaper division of DMGT, is pleased to announce the acquisition of Bargain Pages Media Limited ("Bargain Pages"), the leading publisher of free classified advertising publications in the West Midlands. The total consideration is £8.5 million, adjusted for certain balance sheet items, payable in cash and loan notes.
In its most recent financial year to 31 December 2003, the business had a turnover of £3.6 million and the acquisition is expected to be earnings enhancing before goodwill amortisation in DMGT's forthcoming financial year.
Based in Birmingham, Bargain Pages publishes three editions, which cover Birmingham, the Black Country and Coventry, with a combined weekly sale of around 49,500 copies.
Enquiries:
Peter Williams, Finance Director, DMGT 020-7938-6631
Michael Pelosi, Managing Director, Northcliffe Newspapers 020 7400 1100
Andrew Honnor, Tulchan Communications, 020 7353 4200
Daily Mail and General Trust plc
Northcliffe House, 2 Derry Street,
London, W8 5TT
Tel 020 7938 6000
Fax 020 7938 4626
www.dmgt.co.uk
Registered in England and Wales No. 184594