Thriving local journalism is vital to local democracy, social media is no substitute. – Owl
Local newspaper giant Newsquest seals deal to snap up rival Archant
Henry Saker-Clark www.independent.co.uk
Newsquest said it has completed the acquisition of Archant Community Media from private investment firm Rcapital.
Local newspaper publisher Newsquest is to expand further after sealing a deal to buy East Anglia-based rival Archant.
The move will solidify Newsquest – which publishes titles including the Northern Echo and Lancashire Telegraph – as one of the country’s biggest newspaper groups.
It confirmed on Friday that it has completed the acquisition of Archant Community Media from Rcapital, a private investment firm which snapped up majority ownership of the publisher in a rescue deal in September 2020.
Archant owns a number of local newspaper brands in East Anglia, including the Eastern Daily Press and Norwich Evening News, alongside a portfolio of regional Country Life magazines and employs 760 staff.
Sky News reported last week that the two groups were in talks over a merger deal which would value Archant at between £10 million and £15 million.
Henry Faure Walker, Newsquest chief executive, said: “We’re really looking forward to working with the Archant group who worked so hard to build up the business after it went into administration 18 months ago.
“The Archant strategy focused on building out digital marketing solutions and digital subscriptions is closely aligned with our own and the additional scale that our combination brings will greatly assist Archant’s local news and Life brands in building a stronger future.”
Lorna Willis, Archant chief executive, said: “By bringing the best of Archant and Newsquest together we have the opportunity to lead the way in building an exciting future for regional media, a future that speaks to growth, innovation and sustainability, built on quality local journalism.”