National World PLC Acquisitions of Insider & Rotherham Advertiser (0581Y)
May 02 2023 - 3:00AM
UK Regulatory
TIDMNWOR
RNS Number : 0581Y
National World PLC
02 May 2023
National World plc
("National World," or the "Company")
Acquisitions of Insider Media and Rotherham Advertiser
National World, (LSE:NWOR) is pleased to announce two
acquisitions as part of its strategy to create a fully digitised
multi-platform premium content and sales business which have been
funded from its own cash resources, completed on 28 April 2023.
Insider Media Limited, ("Insider Media") is the UK's leading
regional B2B media company, with a loyal following of its business
information data, online newsletters and business-orientated
magazines and digital content. It organises over 90 market-leading
regional events and breakfast seminars across the UK relevant to
the interests of its customers. The acquisition deepens the
diversity of National World's news model and will grow its events
business. In the post-acquisition period ending 31 December 2023,
it expects to achieve revenues of GBP5.6 million and GBP1.0 million
EBITDA before exceptional costs.
The Rotherham Advertiser acquisition complements National
World's reach across the South Yorkshire, Derbyshire and North
Nottinghamshire markets.
The five acquisitions completed by the Group since December
2022, including Insider and Rotherham Advertiser, will more than
compensate for the recent downturn in advertising sales that has
impacted the whole sector.
Since the year-end, National World has made the final deferred
instalment of GBP2.5 million in respect of the purchase of JPIMedia
Group acquired in 2021 and following the two acquisitions announced
today its cash balances remain in excess of GBP20 million.
Commenting on the acquisitions, National World's Chairman, David
Montgomery, said:
"Over the last 12 months we have made a number of targeted
investments and acquisitions designed to accelerate our progress,
increase our capabilities and grow the audience for our
high-quality content.
"National World offers a unique combination of digital news,
specialist content and targeted audience engagement, helping it
build deeper relationships with its readers and users. Today's
acquisitions are in line with that strategy as we reposition the
business towards our new operating model."
- Ends -
Enquiries:
National World plc
David Montgomery
c/o Montfort Communications
Dowgate Capital Limited
David Poutney +44 (0)20 3903
James Serjeant 7715
+44 (0)77 3970
Montfort Communications 1634
Nick Miles +44 (0)78 1234
Olly Scott 5205
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END
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