3 March 2021
Daily Mail and General Trust plc (DMGT) announced that dmg media, its Consumer Media business, has acquired New Scientist from a consortium of individual investors led by Sir Bernard Gray, for £70 million cash consideration.
New Scientist has a large and growing international readership, with a weekly circulation of approximately 120,000, of which just over half are UK-based.
The business also has a high-quality revenue base with about 75% derived from subscriptions. In 2021, the business is expected to generate cash operating income and operating profit of approximately £7m and revenues are expected to exceed £20m.
Source:
https://newsnreleases.com/2021/03/03/dmgt-acquires-new-scientist-for-70-million-cash/