Regional news publisher Newsquest Media Group has Friday announced the acquisition of rival group Archant Community Media from Rcapital, a private investment firm.
Rcapital has owned the Archant business since September 2020, after it went into administration.
“We’re really looking forward to working with the Archant team who have done a phenomenal job rebuilding the business after it went into administration 18 months ago,” said Henry Faure Walker, Newsquest's chief executive.
“The Archant strategy focused on building out digital marketing solutions and digital subscriptions is closely aligned with our own; and the additional scale that our combination brings will greatly assist Archant’s local news and Life brands in building a stronger future.”
Lorna Willis, Archant chief executive, commented: “By bringing the best of Archant and Newsquest together we have the opportunity to lead the way in building an exciting future for regional media, a future that speaks to growth, innovation and sustainability, built on quality local journalism.”
One of the oldest publishers in the country, Archant owns a portfolio of local news brands principally in East Anglia, and also publishes a portfolio of regional County Life magazines. Its news brands include the Eastern Daily Press (EDP), the East Anglia Daily Times, Norwich Evening News, and Ipswich Star. Based in Norwich, it employs 760 staff.
“Archant’s management team, led by Lorna Willis and Nick Steven-Jones (CFO/COO), should be very proud of what they achieved over the past 18 months,” said Ash Reek, Archant chairman.
“With the support of Rcapital, they have formed a unique partnership with the courage and confidence to successfully transform this business. The working relationship has been fantastic from the outset and the progress we have made in a relatively short period is extremely impressive. I wish them every success for the future as they move into their next phase of Archant’s long and celebrated history.”
Newsquest, owned by US news publisher Gannett Inc, is one of the largest regional news publishers in the UK with a portfolio of more than 120 news brands and 29 magazines online and in print.
