Daily Mail & General Trust PLC Disposal of Elite Daily (5437C)
April 18 2017 - 1:00AM
UK Regulatory
TIDMDMGT
RNS Number : 5437C
Daily Mail & General Trust PLC
18 April 2017
18 April 2017
Daily Mail and General Trust plc (DMGT)
Disposal of Elite Daily
DMGT announces the sale of Elite Daily to Bustle Digital Group,
increasing DMGT's portfolio focus, consistent with DMGT's strategy
presented on 1 December 2016.
The sale enables DMGT's consumer division, dmg media, to
concentrate its digital resources on MailOnline, particularly in
the US where MailOnline remains committed to expanding its
editorial offering and growing its audience on the web, on Snapchat
Discover and on DailyMailTV, which launches in the autumn of 2017.
The sale of Elite Daily enables MailOnline to focus its US sales
and marketing team on strategic commercial partnerships with the
resulting changes marking a significant step forward on the path to
profitability. In the six months to March 2017, MailOnline grew its
revenues by approximately 20% on an underlying basis, including
underlying growth in excess of 25% in the US.
Further information on dmg media's progress, including
MailOnline, during the first six months of FY 2017 will be released
with DMGT's Half Year results on 25 May 2017.
For further information
For analyst and institutional
enquiries:
Adam Webster, Head of Management
Information and Investor Relations +44 20 3615 2903
For media enquiries:
Kim Fletcher / Simone Selzer,
Brunswick Group +44 20 7404 5959
About DMGT
DMGT manages a diverse, multinational portfolio of companies,
with total revenues of almost GBP2 bn, that provide businesses and
consumers with compelling information, analysis, insight, events,
news and entertainment. DMGT is also a founding investor and the
largest shareholder of Euromoney Institutional Investor PLC and ZPG
Plc.
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISSFWFAWFWSEFL
(END) Dow Jones Newswires
April 18, 2017 02:00 ET (06:00 GMT)
Daily Mail & General (LSE:DMGT)
Historical Stock Chart
From Apr 2024 to May 2024
Daily Mail & General (LSE:DMGT)
Historical Stock Chart
From May 2023 to May 2024