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Northcliffe revenues down in months prior to sell off

Revenues at Northcliffe Media declined by 8pc in the three months prior to its sale to Local World, according to figures released today.

The sale of the regional publisher to the David Montgomery-led consortium was completed at the end of last year.

Figures published by its former parent company DMGT showed that in the three-month period up to 30 December, its revenues fell 8pc year-on-year.

The underlying figure, which discounts the impact of newspaper closures and other structural changes, saw revenues fall 5pc.

Today’s interim management statement shows that circulation revenues at Northcliffe were down 4pc in the period and advertising revenues down 9pc.

It also reveals that DMGT has rebranded its former national newspaper division, Associated Newspapers, as DMG Media.

DMGT sold Northcliffe to Local World for £52.5m plus a 38.7pc stake in the new company.

Yattendon plc, which sold its regional division Iliffe News and Media to the new company, has a 21.3pc stake while Trinity Mirror has a 20pc shareholding in the venture.

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  • February 11, 2013 at 11:44 am

    Sadly another nail in the coffin of a once great company.

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