Money Daily Mail plots bid for The Week magazine

04:20  12 july  2018
04:20  12 july  2018 Source:   news.sky.com

West Brom linked with a fresh move for Sam Johnstone

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The head office of the Daily Mail in west London © PA The head office of the Daily Mail in west London

The Daily Mail's owner has tabled a bid to buy the current affairs magazine The Week amid a hotly contested battle to break up the media group behind Viz.

Sky News has learnt that Daily Mail & General Trust (DMGT) lodged a formal offer last week for the title, which is part of privately owned Dennis Publishing.

DMGT, which is close to landing a £640m windfall from the takeover of Zoopla-owner ZPG, is also understood to be keen to acquire Moneyweek and The Week's US sister title as part of a deal.

A source close to the auction of Dennis, which was created by the late media tycoon Felix Dennis, said DMGT had not bid for the remainder of the company's titles, such as Viz and a cluster of computing and automotive magazines.

Burnley willing to splash £18m on Rodriguez signing

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  Daily Mail plots bid for The Week magazine © PA

The listed media company is understood to be keen to promote The Week across its national newspapers and to expand the magazine more aggressively in the US.

Dennis has been put up for sale by the executors of its founder's estate, with the proceeds expected to be distributed to The Heart of England Forest Charity, which was also set up by tree-loving Mr Dennis.

The charity's trustees are chaired by Jon Snow, the Channel 4 News presenter.

DMGT is facing competition for Dennis's assets from a number of private equity firms, including Equistone, HIG and Inflexion.

Some of the bidders have lodged offers for the entire business, while others have identified specific titles that they want to buy.

Epiris, another financial investor which owns the TV Times publisher Time Inc UK, has also been linked to a bid for the Dennis titles.

Newcastle reach agreement with Chelsea winger over loan deal

  Newcastle reach agreement with Chelsea winger over loan deal Newcastle United have reportedly reached an agreement with Chelsea winger Kenedy regarding a season-long loan deal. According to claims from the Daily Mail, the exciting Brazilian youngster will spend next season on loan with Rafa Benitez’s side after enjoying a strong second half to the last campaign at St James’ Park. Kenedy joined the Magpies on a short-term temporary deal from Chelsea in January and went on to impress, establishing himself as something of a fans’ favourite. However, it was unclear as to whether or not he would return for the 2018/19 season, be it on a temporary or permanent basis. It seems as though Kenedy’s move to Newcastle is set to be confirmed in the near future, though, with the Daily Mail indicating that a deal has been wrapped up. Following such an impressive spell up north, Kenedy was courted by a number of top European clubs, including Bayern Munich and PSG. The winger will join Newcastle for next season, though, as Benitez continues to press ahead with his summer dealings.

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Both Dennis and Time Inc UK have provided evidence of the toll being exerted on print media groups in recent years amid growing pressure on advertising revenues as readers increasingly shift online.

In 2009, Dennis ceased publication of Maxim UK's print edition following a catastrophic decline in sales in the lads' mags‎ category.

However, The Week, which is likely to be valued at well over £100m, has seen its circulation rise steadily even as the newspaper titles it summarises have seen demand shrink at a rapid rate.

Publishers say The Week has over 350,000 readers. Pic: Dennis © Other Publishers say The Week has over 350,000 readers. Pic: Dennis

Figures produced by PricewaterhouseCoopers suggest that print advertising revenue for consumer magazines will fall to $6.7bn in the US by 2021, less than half the $13.6bn that magazines took in 2012.

Print circulation sales are projected to drop 23% to $6.1bn over the same period, and industry trends are broadly similar in the UK.

The Dennis auction is being handled by Livingstone Corporate Finance, an advisory firm.

Celtic reportedly showed interest in Westwood this summer .
Celtic expressed an interest in signing Sheffield Wednesday goalkeeper Keiren Westwood this summer, according to a report from the Daily Mail. The Championship outfit are believed to be keen on cashing in on their experienced goalkeeper, who has for some time now performed at an impressive standard for the club. Westwood is an established international for the Republic of Ireland and has earned himself a reputation as one of the more consistent Championship goalkeepers thanks to his displays in recent campaigns. However, it seems a summer move could be on the cards for Westwood, with a host of top-flight clubs appearing to line up respective swoops for the shot-stopper. It’s claimed by the Daily Mail that Celtic, along with Premier League side Southampton, have shown an interest in recruiting Westwood this summer. Stoke City and West Brom, however, are also believed to be keen on a deal. Celtic are already well-stocked with goalkeeping options, with Craig Gordon and Scott Bain formidable choices for between the sticks. However, the Hoops have been linked with Westwood and should a cut-price deal become available, they may well look to pounce.

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