The Week, one of Britain’s best-selling news and current affairs magazines, has gone on sale as part of an initiative likely to attract the interest of major newspaper publishers.
Sky News has learned that Dennis Publishing, the online magazine and media group owned by Exponent Private Equity, has hired investment bankers to gauge potential buyers’ interest in The Week.
Sources in the city said over the weekend that Liontree Advisors had been appointed by Dennis Publishing to oversee an auction.
The sales process should not include other brands in the company’s portfolio, such as Viz. Photo: AP
The decision to sell the title follows a period of decline in print circulation of The Week, however this trend was offset by soaring sales of The Week Junior, its topical title for young readers.
It is understood that the sales process is for Dennis Publishing’s flagship magazine only and does not include any of the other brands in its portfolio, including AutoExpress, Fortean Times, Minecraft World, MoneyWeek, and Viz.
The proposed sale comes three years after Exponent ruled out competition from Daily Mail & General Trust (DMGT to acquire Dennis.
It was not clear this weekend whether DMGT would be among the contenders for The Week, although analysts said major publishing groups would likely consider making offers for the title.
Dennis was put up for sale in 2018 by the executors of the estate of founder Felix Dennis, with the proceeds then going to The Heart of England Forest Charity, which was also started by the tree-loving mogul.
Dennis and his publishing rivals have both provided evidence of the toll on print media groups amid increasing pressure on ad revenue as readers increasingly travel online.
The exhibitor did not respond to a request for comment on Sunday.
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Source: news.sky.com
This notice was published: 2021-06-06 14:29:00
