Daily Mail & General Trust Plc. (DMGT.L) said that its Consumer Media business, dmg media, has acquired New Scientist, science publishing title, from a consortium of individual investors led by Bernard Gray, for 70 million pounds in cash.
New Scientist has a large and growing international readership, with a weekly circulation of about 120,000, of which just over half are UK-based.
In 2021, the business is expected to generate cash operating income and operating profit of about 7 million pounds and revenues are expected to exceed 20 million pounds.
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