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 £5.6 million and £1.0 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 £2.5 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 £20 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."
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Enquiries:
| National World plc David Montgomery c/o Montfort Communications
| |
| Dowgate Capital Limited David Poutney James Serjeant
| +44 (0)20 3903 7715 |
| Montfort Communications Nick Miles Olly Scott
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+44 (0)77 3970 1634 +44 (0)78 1234 5205
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