20th Oct 2006 10:21
20 October, 2006 Daily Mail and General Trust plc (`DMGT') Acquisition of 60% of Catchpole Communications Associated Newspapers, the national newspaper division of DMGT, announces thatit has acquired 60% of Catchpole Communications FZ LLC for a consideration ofUS $7.2 million (‚£3.9 million). Associated has the option to increase itsinvestment in Catchpole over the next three years.Catchpole is a Dubai Media Free Zone company that provides sales, circulationand management services to the U.A.E daily newspaper 7DAYS.7DAYS is an English language free newspaper, similar to Associated's Metro. Itwas launched in December 2004 and is already profitable. In its first year to31 December 2005, it recorded revenues of US $5.1 million (‚£2.7 million).Speaking after the transaction, Steve Auckland, Managing Director of Metrocommented: "the Middle East has seen a dramatic growth in publishing and theforecast is for this to continue. Dubai is at the centre of this economic boom.We are very excited by the opportunity to work with the management team atCatchpole, to identify new market opportunities and to help build theirexisting businesses."Enquiries:Peter Williams, Finance Director, DMGT, 020 7938 6631Steve Auckland, Managing Director, Associated Metro, 020 7651 5345Andrew Honnor, Tulchan Communications, 020 7353 4200 Daily Mail and General Trust plc Northcliffe House, 2 Derry Street, London, W8 5TT Tel 020 7938 6000 Fax 020 7938 4626 www.dmgt.co.uk Registered in England and Wales No. 184594ENDDAILY MAIL & GENERAL TRUST PLCRelated Shares:
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