Entertainment

Local newspaper giant Newsquest seals deal to nab rival Archant

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Local newspaper publisher Newsquest will continue to expand after sealing a deal to buy East Anglia-based rival Archant.

The move will solidify Newsquest – which publishes titles such as the Northern Echo and Lancashire Telegraph – as one of the largest newspaper groups in the country.

It confirmed on Friday it has completed the acquisition of Archant Community Media from Rcapital, a private investment firm that bought a majority stake in the publisher in a rescue deal in September 2020.

Archant owns a number of local newspaper brands in East Anglia, including the Eastern Daily Press and the Norwich Evening News, as well as a portfolio of regional Country Life magazines and employs 760 people.

Sky News reported last week that the two groups were in talks over a merger that would give Archant a value of between £10million and £15million.

Henry Faure Walker, Chief Executive of Newsquest, said: “We are delighted to be working with the Archant group who have worked so hard to build the business after it went into administration 18 months ago.

“Arrant’s strategy, focused on building digital marketing solutions and digital subscriptions, is closely aligned with our own and the added scale our combination brings will help Archant’s local news and life brands in building contribute significantly to a stronger future.”

Lorna Willis, Chief Executive of Archant, said: “By bringing together the best of Archant and Newsquest, we have the opportunity to lead the way in building an exciting future for regional media, one that speaks for growth, innovation, sustainability and local journalism based on quality”.

https://www.independent.ie/entertainment/local-newspaper-giant-newsquest-seals-deal-to-snap-up-rival-archant-41462682.html Local newspaper giant Newsquest seals deal to nab rival Archant

Fry Electronics Team

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