Smiths News PLC Contract Renewal - Associated Newspapers (3036D)
October 19 2022 - 2:00AM
UK Regulatory
TIDMSNWS
RNS Number : 3036D
Smiths News PLC
19 October 2022
This announcement contains inside information
Smiths News PLC
("Smiths News")
Contract Renewal with Associated Newspapers Limited
Smiths News is pleased to announce that it has successfully
secured a new long-term contract with Associated Newspapers
Limited, publisher of the 'Daily Mail', 'The Mail on Sunday' and
the 'i' newspaper.
The new agreement reached with Associated Newspapers represents
the first of the major newspaper publisher contract renewals and
follows closely on from this week's announcement of Smiths News
having successfully secured new 5 year magazine distribution
agreements with each of Frontline and Seymour.
The new agreement with Associated Newspapers is for all of
Smiths News' current distribution territories in the UK through to
2029, representing revenues of c.GBP155m p.a. at current market
values.
Combined with Frontline and Seymour, this now means that Smiths
News has secured long-term contracts with 35% of its newspaper and
magazine revenues. The new contracts are an endorsement of the
future of the printed newspaper and magazine categories and confirm
Smiths News' leading position in the sector.
Jon Bunting, Chief Executive Officer, commented:
"I am delighted that we have agreed a new contract with
Associated Newspapers, building upon the recently announced
Frontline and Seymour renewals. We look forward to working with
Associated Newspapers to ensure the widespread access and
availability of their titles for readers and continuing to
demonstrate the pivotal role we play in the supply chain. Renewal
of our publisher contracts remains a strategic priority for the
business, underpinning the long-term sustainability of the
business."
Enquiries:
Smiths News PLC Via Buchanan
Jonathan Bunting, Chief Executive Officer
Paul Baker, Chief Financial Officer
www.smithsnews.co.uk
Buchanan
Richard Oldworth / Jamie Hooper / Toto Berger
smithsnews@buchanan.uk.com
www.buchanan.uk.com 020 7466 5000
Person responsible for arranging release
of this announcement:
Stuart Marriner
General Counsel & Company Secretary
Smiths News plc
Rowan House
Cherry Orchard North
Kembrey Park
Swindon
SN2 8UH
email: cosec@smithsnews.co.uk
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END
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