Here JP’s summary of the proposal:
JP proposes to acquire i for £24m* at a 4.6x multiple of its 2015 full year profit of £5.2m Key benefits:
● Greater reach: The combination creates UK’s 4th largest print publisher with over 600,000 paid copies a day
● Increased scale: Greater reach improves ability to gain greater share of national advertising market
● Growing revenues: i has growing circulation revenues, and new opportunities arise from: the proposed digital product; new geographic markets; and from cross-selling JP to i’s advertiser base and vice-versa
● Accelerated digital transformation through: leveraging JP’s digital expertise to fully realise the i brand across digital platforms; extensive JP network enables cross-promotion to grow audiences at minimal cost; the regionally-oriented digital display network 1XL is enhanced by the addition of a national brand Key financial benefits:
● Immediately earnings enhancing
● Strong cash generation
● Cost savings and revenue synergies
more at www.pjnews.co.uk
