Share Search
Visit the Share Search
Newsquest in 'exclusive talks' to buy Archant - report
7th Feb 2022 13:31
(Sharecast News) - Newsquest is understood it be in exclusive takeover talks with regional newspaper giant Archant, it was reported on Monday.
Archant, which owns a range of regional titles from Norfolk's Eastern Daily Press to the Wanstead and Woodford Recorder in east London, was put up for sale last month by its owner, Rcapital.
It has already attracted interest from several media firms, including Mirror owner Reach, and Scotsman owner National World.
But according to Sky News, Newsquest - which is owned by US publisher Gannett - has now entered into a period of exclusive discussions. No financial details are known, though according to Sky, Archant has around £8bn of debt.
Neither Newsquest nor Rcapital have commented on the report.
Turnaround specialist Rcapital acquired Archant in 2020. Archant, which is based in Norwich and was founded in 1845, also owns a number of magazine titles alongside its regional newspapers.
Newsquest, the UK's second-biggest regional player, owns more than 120 news brands including a number of daily newspapers, such as The Herald in Glasgow and Brighton's The Argus, and a number of regional magazines. Previously listed on the London Stock Exchange, it was acquired by Gannett in 1999.
Archant, which owns a range of regional titles from Norfolk's Eastern Daily Press to the Wanstead and Woodford Recorder in east London, was put up for sale last month by its owner, Rcapital.
It has already attracted interest from several media firms, including Mirror owner Reach, and Scotsman owner National World.
But according to Sky News, Newsquest - which is owned by US publisher Gannett - has now entered into a period of exclusive discussions. No financial details are known, though according to Sky, Archant has around £8bn of debt.
Neither Newsquest nor Rcapital have commented on the report.
Turnaround specialist Rcapital acquired Archant in 2020. Archant, which is based in Norwich and was founded in 1845, also owns a number of magazine titles alongside its regional newspapers.
Newsquest, the UK's second-biggest regional player, owns more than 120 news brands including a number of daily newspapers, such as The Herald in Glasgow and Brighton's The Argus, and a number of regional magazines. Previously listed on the London Stock Exchange, it was acquired by Gannett in 1999.