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DMGT offloads Evening Standard for £15 million - Venture Insights

Report Overview

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DMGT offloads Evening Standard for £15 million

PublisherEnders Analysis.
Publish Date January 26, 2009
Sector Print Media.
Company DMGT.

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DMGT has sold a 75% stake in its London title, the Evening Standard, to Russian investor Alexander Lebedev for £15 million.

The deal helps DMGT reduce its losses at the title, thought to be up to £20 million a year.

While the sale also underlines the publisher’s commitment to reducing its reliance on volatile newspaper assets, we think it highly unlikely that the crown jewels the Daily Mail and the Mail on Sunday will come to market, although the story could be different for regional division Northcliffe.