12th Jul 2006 11:17
12 July, 2006 Daily Mail and General Trust plc (`DMGT') DMGT expands online activities with three acquisitions Associated Newspapers, the national newspaper division of DMGT, announces thatit has recently made three online acquisitions as part of its continuingstrategy of making investments to increase its exposure to key areas of theonline advertising market, pertinent to Associated such as automotive, jobs,property, dating, and personal finance. All of the acquisitions will form partof the AN Digital network of online assets.Following these acquisitions and others made by AN Digital in recent months,the AN Digital network now reaches an estimated 25% of all UK internet users.The division's revenues are running at an annualised rate of around ‚£75 millionand achieving a blended operating margin (before amortisation) in excess of20%.In the first of these, Auto Exposure Limited has been acquired which providescar dealers with services to publish and advertise their vehicle inventoryonline. The acquisition of Auto Exposure builds upon DMGT's recent acquisitionof Data Media and Retail Limited, the UK's leading privately-owned operator ofcar classified portals including Carsource.co.uk, and continues the Group'sstrategy of increasing its presence in the online automotive advertisingmarket.Associated has also made two further acquisitions which will form part of theGroup's Jobsite recruitment portfolio, both of which complement Jobsite'sstrategy of strengthening its position in key market verticals. Associatedacquired Interbase Limited which operates "productionbase.co.uk" a subscriptionbased recruitment website for freelancers in the television broadcasting andfilm production industries in the UK, representing our first move into themedia and entertainment recruitment sector.Finally Associated has completed the acquisition of The Appointment Limited,the company that runs the retail recruitment sites "inretail.co.uk" and"retailcareers.co.uk" as well as the retail magazine "The Appointment".The combined headline valuation for these acquisitions was ‚£17 million, withinitial payments made of ‚£12.3 million. Combined turnover for the threebusinesses for their latest financial year (unaudited) was approximately ‚£4.5million.All acquisitions are expected to be earnings enhancing before amortisation inDMGT's current financial year.Enquiries:Peter Williams, Finance Director, DMGT 020 7938 6631Andrew Hart, Managing Director, AN Digital, 020 7752 8675Andrew 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:
DMGT.L