Good News For Slaughters and Ashurst As Daily Mail Takes On i Newspaper
The two firms are advising on the high profile media deal worth £49.6 million.
November 29, 2019 at 08:28 AM
2 minute read
Daily Mail (Image Credit: DMGT)
Magic Circle firm Slaughter and May is advising the owner of the Daily Mail on its £50 million takeover of fellow news publication, the i.
The deal, which was confirmed this morning, will see the media subsidiary of the Daily Mail and General Trust (DMGT) take over the national newspaper and website from current owners, JPI Media.
Elite firm Ashurst is advising JPI Media on the sale, with corporate partner Braeden Donnelly leading the team.
The Slaughters team is led by corporate partner, Rebecca Cousin.
According to DMGT, the i generated £11m in cash operating income and operating profit in 2018, and £34m in revenue.
It is anticipated that the acquisition will be reviewed by the UK Competition and Markets Authority, which Slaughters will also be advising on.
Ashurst previously advised Johnston Press on its acquisition of the i newspaper business from Independent Print Limited in 2016, as well as its subsequent search for a buyer in 2018.
In 2014, RPC advised DGM Media on its sale of Jobsite to Axel Springer publishing group, alongside Bird & Bird and Magic Circle firm Freshfields Bruckhaus Deringer.
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