Grimsby Telegraph owner Northcliffe Media sold to create new media business Local World
THE owner of the Grimsby Telegraph and thisisgrimsby.co.uk is to be sold, along with 76 other newspapers and dozens of websites to create one of the UK’s leading regional publishing businesses.
Daily Mail and General Trust has reached agreement to sell Northcliffe Media to Local World, a newly-formed media group that will combine the Northcliffe titles with those of Iliffe News & Media Ltd.
The aim is to create a strong media business dedicated to the provision of first-class local content and advertising sales solutions.
DMGT will receive £52.5-million and a 38.7 per cent shareholding in Local World. The Iliffe family, owners of Yattendon Group, will hold 21.3 per cent. Trinity Mirror will also take a 20 per cent slice, with remaining shares purchased by other investors.
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Local World will become one of the UK’s leading regional newspaper publishers, online content providers and local advertising platforms, with more than 107 print titles and 60 websites. DMGT will contribute more than 80 titles to the new venture, including the Hull Daily Mail, Scunthorpe Telegraph and Lincolnshire Echo, with another 36 coming from Iliffe News & Media, including the Cambridge News.
It will mean a combined weekly newspaper audience of six million readers and seven million online users.
Steve Auckland, currently chief executive of Northcliffe, will become chief executive of Local World. The company will be chaired by David Montgomery, one of the most experienced media executives in the UK.
Announcing the new venture, Mr Montgomery, former chief executive of Mirror Group, said: “This is an entirely new type of media business. The value of Local World will lie in its people, its franchises and its intellectual property. It will be unencumbered by the infrastructure of the industrial past such as property, printing presses and large scale distribution or any legacy issues such as high levels of debt. Local World signals the fight back in Britain’s regional media industry.”
The management team said the new business aims to build on leading regional titles, with strong audience loyalty in local communities, and expand Local World’s digital presence with the investment of £10-million.
Mr Auckland said: “Local World will be a comprehensive local content provider, offering the best and most trusted source of news, views and advertising in print, online and mobile, to its local audiences in the UK. The new company will be well-resourced, entrepreneurial, and able to respond quickly to the differing requirements of local communities.”
Martin Morgan, chief executive of DMGT, said: “This is good news for DMGT, for all who work at Northcliffe and for the future of local news media. Local World has talented people and a clear vision for the future of local media. I think the media industry has been waiting for this logical next step for regional newspapers.”
Comments
by jack_knife
Sunday, November 25 2012, 10:24AM
“Julie,
Thank you for that.
As I stopped getting it, I thought it had ceased to be published. I take it, it has to be bought, rather than being free?”
by jules_22
Sunday, November 25 2012, 6:01AM
“@jack_knife The Chronicle is still going strong. I have it delivered every week. The Advertiser has replaced the Cleethorpes Post which was a freebie. Try the Cleethorpes Chronicle - it is far superior to the Telegraph!
@HarryFleet - totally agree with you about Chronicle being owned and published locally”
by HarryFleet
Saturday, November 24 2012, 9:56PM
“The Chronicle certainly is published I get it delivered every week. I would never go back to the Telegraph now. The journalism in the Chronicle is so much better, not to mention the spelling and grammar. If you don't get it delivered then I know its for sale every week in Tesco, Asda and other supermarkets. I have also seen it in lots of newsagents. In regard to this story it's good to know the Chronicle is the only local paper actually owned and run by local people.”
by jack_knife
Saturday, November 24 2012, 8:05PM
“Julie,
I don't think the Cleethorpes Chronicle is published now, as it has stopped being dropped through my letterbox, unless it's changed it's name to the "Advertiser."”
by porcelainblak
Friday, November 23 2012, 10:24PM
“jking88
Thanks for the advice darl and I would love to do this techy bit but my knowledge of ICT is so limited my computer could be steam powered for all I know! :)”
by jking88
Thursday, November 22 2012, 2:42PM
“@porcelainblak I use AdBlock with Firefox and Google Chrome and not a single annoying pop-up has appeared”
by Seamus-McTav
Thursday, November 22 2012, 1:31PM
“Hmmm....who will the Council turn to now to peddle its propaganda...and Nukedragga you really need to get your blinkered head out of the sand and actually read what those posts are about concerning the bailiffs and other dodgy practices...whoever he is is making some valid points which should concern us all.
Have you ever wondered why they keep getting deleted and having to be reposted.......theres none so blind as those who will not see and you are the blindest of them all reading your posts.”
by porcelainblak
Wednesday, November 21 2012, 10:27PM
“Does that mean that This Is Grimsby will be getting rid of those IRRITATING new pop ups?!”
by nukedragga
Wednesday, November 21 2012, 9:58PM
“Perhaps this will put a welcome end to the troll and his many AKAs who write to each other, congratulate (that really is weird) each other and pretend to debate with each other with the aim of carrying out the ridiculous plot of bringing down councils, stopping windmill production and stopping coal dust which was really agricultural debris and tyre rubber. So 'tyresome' :-D .”
by Louise84
Wednesday, November 21 2012, 5:02PM
“what a happy bunch you all are :)”