Contract Renewal - Associated Newspapers
This announcement contains inside information
Smiths News PLC
Contract Renewal with Associated Newspapers Limited
Smiths News is pleased to announce that it has successfully secured a new long-term contract with Associated Newspapers Limited, publisher of the 'Daily Mail', 'The Mail on Sunday' and the 'i' newspaper.
The new agreement reached with Associated Newspapers represents the first of the major newspaper publisher contract renewals and follows closely on from this week's announcement of Smiths News having successfully secured new 5 year magazine distribution agreements with each of Frontline and Seymour.
The new agreement with Associated Newspapers is for all of Smiths News' current distribution territories in the UK through to 2029, representing revenues of c.£155m p.a. at current market values.
Combined with Frontline and Seymour, this now means that Smiths News has secured long-term contracts with 35% of its newspaper and magazine revenues. The new contracts are an endorsement of the future of the printed newspaper and magazine categories and confirm Smiths News' leading position in the sector.
Jon Bunting, Chief Executive Officer, commented:
"I am delighted that we have agreed a new contract with Associated Newspapers, building upon the recently announced Frontline and Seymour renewals. We look forward to working with Associated Newspapers to ensure the widespread access and availability of their titles for readers and continuing to demonstrate the pivotal role we play in the supply chain. Renewal of our publisher contracts remains a strategic priority for the business, underpinning the long-term sustainability of the business."
Smiths News PLC
Jonathan Bunting, Chief Executive Officer
Paul Baker, Chief Financial Officer
Richard Oldworth / Jamie Hooper / Toto Berger
020 7466 5000
Person responsible for arranging release of this announcement:
General Counsel & Company Secretary
Smiths News plc
Cherry Orchard North
email: [email protected]