Media Concierge is set to acquire National World in a £65.1 million all-cash deal, marking a notable escalation from its previous offer.
- The Irish group assures no significant job cuts or brand closures while planning to relocate National World’s head office to London.
- This increased offer reflects a 53.3% premium over National World’s recent share price, demonstrating strong confidence in the publisher’s value.
- Media Concierge commits to sustaining National World’s print products and local journalism, with plans to invest in editorial output.
- The acquisition aims to enhance National World’s performance and leverage new synergies as part of the larger Media Concierge Group.
Media Concierge has announced a decisive all-cash acquisition of National World for £65.1 million, significantly boosting its initial offer from £56.2 million. In making this acquisition, Media Concierge plans to maintain National World’s current news brands without major job cuts in editorial or production, although it does plan to move the head office from Leeds to London.
The acquisition will be executed by Neo Media Publishing Ltd, a newly formed entity wholly owned by Media Concierge. The Irish group has proposed a final cash offer of 23 pence per share, which stands a substantial 53.3% above the closing price of 15 pence. This substantial offer underscores Media Concierge’s faith in National World’s market position, quality brands, and comprehensive coverage across the UK.
Media Concierge intends to enhance National World’s business performance by integrating it as a private entity within its larger group, believing that this integration will generate valuable synergies. The group sees potential in leveraging its extensive knowledge, resources, and relationships to benefit National World.
Committed to preserving National World’s print products, Media Concierge also promises to uphold the essence of local journalism. It has guaranteed that there will be no business sales for at least the next 12 months. The Leeds office will remain operational alongside the head office’s move to London.
The Denmark family, owners of the Irish group, are well-established in the media industry, managing Mediaforce, The Leaflet Company, and Iconic Media Group. Their strategic acquisition of National World marks yet another expansion in their media holdings.
This acquisition showcases Media Concierge’s strategic growth initiatives and commitment to strengthening National World’s market presence.
