Rolling coverage of the latest economics and financial news as investors react to UK data showing consumer confidence flatlined in November
DMGT chairman Lord Rothermere said the ‘i’ will be a “strong cash generator for the group.”
In 2018, the ‘i’ made around £11m in profits and was previously considered the crown jewel for JPI. The ‘i’ sells around 170,000 newspapers each weekday, and around 190,000 on Saturdays, while its website attracts around 300,000 daily unique readers.
We are delighted to welcome the ‘i’ to our stable of media brands. It is a highly respected publication with a loyal and engaged readership. We are committed to preserving its distinctive, high quality and politically independent editorial style.
The acquisition of the ‘i’ is both strategically and financially compelling for DMGT and there is scope for potential synergies in the future, notably from dmg media’s existing infrastructure and in advertising sales.
The Daily Mail and General Trust is to buy the ‘i’ newspaper and website from JPI Media, best known for owning the Yorkshire Post and The Scotsman papers.
Daily Mail confirms it is buying the i newspaper and website for £49.6m in cash. https://t.co/FDMtWwFLll