Johnston Press plc

Advised Johnston Press plc on its acquisition of the i newspaper

Johnston Press plc announced that it has acquired the business and certain assets of i from Independent Print Limited for a total consideration of £24 million, to be satisfied with £22 million in cash on Completion and £2 million in cash in 2017.

Johnston Press is one of the largest local and regional multimedia organisations in the UK. It provides news and information services to local and regional communities through its extensive portfolio of hundreds of publications and websites.

i is a UK national daily newspaper providing concise quality editorial content, priced at 40 pence per issue Monday to Friday and 50 pence per issue on Saturday. i had an average audited circulation for the period December 2015 of 268,000 and was named National Newspaper of the Year in 2015 at the industry’s News Awards.

The Acquisition has created the UK’s 4th biggest news publishing group, centred around a handful of leading brands, selling over 600,000 copies a day without significant exposure to the highly competitive London market.

Our role and highlights

  • Lead financial advisor to Johnston Press plc
  • Class 1 acquisition under the listing rules
  • Asset purchase and carve-out from a larger media group
  • Acquisition of leading media brand
  • Transformational acquisition for Johnston Press plc

“This is a transformational acquisition for Johnston Press and an important step towards delivering our long-term strategy. i is a highly regarded newspaper with a clear market position and a loyal readership.”

Ashley HighfieldChief Executive of Johnston Press plc

“The team’s sector expertise, corporate finance knowledge and commitment in a complex transaction really stood out. Their advice was key in making this transformational acquisition happen.”

Jason Rewse-DaviesGroup Corporate Development Director at Johnston Press plc

“This is a transformational acquisition for Johnston Press and an important step towards delivering our long-term strategy. i is a highly regarded newspaper with a clear market position and a loyal readership.”

Ashley HighfieldChief Executive of Johnston Press plc

“The team’s sector expertise, corporate finance knowledge and commitment in a complex transaction really stood out. Their advice was key in making this transformational acquisition happen.”

Jason Rewse-DaviesGroup Corporate Development Director at Johnston Press plc