6th Dec 2019 11:22
(Alliance News) - UK Competition & Markets Authority on Friday said it has launched an investigation in relation to the completed acquisition of JPIMedia Publications Ltd by DMG Media Ltd, a subsidiary of Daily Mail & General Trust PLC.
JPIMedia Publications Ltd - which was purchased for GBP49.6 million - is the owner of the i newspaper and a subsidiary of JPI Media Ltd.
In 2018, the i newspaper generated GBP11 million in operating profit on GBP34 million revenue. On Wednesday, DMGT itself reported pretax profit for the year to the end of September of GBP134.3 million on a revenue of GBP1.34 billion.
DMGT shares were trading 1.0% lower in London on Friday at 833.50 pence each.
By Evelina Grecenko; [email protected]
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