AddThis SmartLayers

JPIMedia owner ‘actively engaged’ in acquisition plans

David MontgomeryJPIMedia owner National World has revealed it is now “actively engaged” in plans to buy other businesses.

The company says it is currently seeking acquisitions that will “enhance its digital capabilities and broaden its content base beyond news”.

In a trading update issued this morning, National World added it is also open to “adding to its heritage assets”.

The company revealed revenue for 2021 was expected to be around £85 million, with expected digital revenue growth in the region of 20pc.

Year-on-year print revenues were set to be “significantly improved”, with a 3pc decline in the second half of the year compared to a 9pc decline in the first six months of 2021.

National World executive chairman David Montgomery, pictured, has touted further acquisition plans on a number of occasions since the investment vehicle’s takeover of JPIMedia at the start of this year.

This morning’s trading update states: “Management is actively engaged in developing acquisition opportunities primarily targeting businesses that will enhance its digital capabilities and broaden its content base beyond news.

“It is also open to adding to its heritage assets to build scale and enhance shareholder value through synergies.

“Whilst the trading environment remains uncertain due to the pandemic and rising newsprint and energy prices, the board looks forward to reporting further progress in 2022 and beyond.

“The board thanks JPIMedia’s talented staff for successfully completing the first stage of reorganisation on the journey to a sustainable operating model.”

National World further said it was implementing a “new phase of restructure to create a sustainable premium content and sales business” as well.

HTFP last week revealed JPIMedia’s plan which will see its North-West and North-East business units merge into a single division covering the North of England.

As a result, Gillian Parkinson, JPIMedia’s editorial director in the North-West of England, and Joy Yates, her equivalent in the North-East, will also “be ceasing her present role” as a result of the move.