The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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New premium app now available. launched yesterday
The share price is all down to the clown at the top , no actual ideas on how to add value to the bottom line Circulation on print is being crucified through lack of proper down to earth local news journalists. One Valleys Weekly sale is 388 it as over 20000 Not just this muppets fault admittedly, but he and a few useless ceo's previously who believed the be and end all was digital. Having sold advertising for them for over 30 years the 1980 -2010 .It had been a bit of Peter to pay Paul by splitting revunue of print to digital for it to appear digital was a growth area , in fact without the solid base of print Digital would have fallen flat on its backside. Now print has been squeeze to death unless a subscription for digital isn't implement soon kiss good bye to current profit
Agree with you there. hopfully this can be a turning point goodness knows its been a miserable 12months here.
Hopefully all the sales out of the way and the trials will start to be finalised, some good news on the pensions and a maintained or increased dividend? First hockey stick for a long while.
Interesting podcast at the bottom of that page worth listening to. "Why Reach is upbeat about online ads despite the big cookie switch-off" https://shows.acast.com/623317507e51370012bc96c3/65b228c1ff93e90017dacfa3
Press gazette today
https://pressgazette.co.uk/marketing/publisher-ad-tech-platforms-ozone-and-mantis-advance-amid-fight-to-save-journalism-on-open-web/
From the ft yesterday courtesy of Masergt,
htTps://archive.is/TFJeV
Small piece on reach go to 1.5.50
https://www.youtube.com/watch?v=Q3eaq_JlQ38&t=1s
More price sensitive stories appearing in media rather than RNS, this one definitely knocked market confidence
https://www.theguardian.com/business/2024/jan/23/mirror-publisher-print-titles-reach-digital
Https://pressgazette.co.uk/marketing/reach-digital-third-party-cookies/
at last someone taking a lead at RCH . reckon a divi of around 3.95 and rise in price to around 87 by end of April maybe earlier
Going nowhere fast Please can we get someone in to lead the digital subscriptions and generate a new revenue source .Mullens time is up. Dec digital views weren't very promising. Go now.
Exactly, for MGN scheme alone last we heard deficit very much still exists and will not be cleared until 2028. There are 6 legacy schemes in total, at least one other (EN88) also in deficit as at last year's report. The last time we had an update on all schemes they gave projected date for deficits being collectively cleared as 2029.
Either they've preformed a miraculous turnaround and not informed the market or Press Gazette are wrong.
From Q3 UPDATE.
The MGN Pension scheme resolution
We are pleased to report that we have now concluded the 2019 triennial valuation for the MGN scheme,
and at the same time concluded its 2022 triennial valuation. The funding valuation of the MGN scheme at
31 December 2022 showed a deficit of £219.0m. This deficit is expected to be removed via a schedule of
contributions that includes annual payments of £46.0m pa from January 2023 until January 2028. The
previous schedule of contributions for the MGN scheme included payments of £40.9m pa from 2023 to
20273
. Discussions are ongoing with the Group’s other schemes in relation to the 2022 triennial valuations
and are expected to be concluded satisfactorily by the 31 March 2024 due date.
The pension deficit being cleared would be major news, if true why haven't they shared that information by RNS? I see also Mirror editor steps down, apparently shareholders don't need to know this either https://www.bbc.co.uk/news/entertainment-arts-67982234
Reach chief executive Jim Mullen has told staff there are currently no plans for further cuts this year after a difficult 2023 at the publisher.
He also said the end of the company’s longstanding pension fund deficit and a time limit on legal claims established by the Prince Harry privacy trial judgment were both good news for the business.
In an all-staff email on Tuesday afternoon, Mullen said the more than 700 job cuts that have taken place over the past year have left the business “structured for our digitally-led future”.
He also explained why page views are still key despite other publishers increasingly putting more emphasis on subscriptions and other engagement-focused metrics amid falling search and social referrals.
And there it is the bottom , mullen must go now no ifs or buts he's not the guy to lead us forward. wouldnt be surprised if we were to get a buyer takeover . Onwards and Upwards from this point
I thought there was supposed to be a trading statement today?
JM has to go , we someone in with a fresh outlook for the business to generate more profits . tired of seeing this SP so cheap ,. new ideas are required to drive the business forward more subscription deals should be introduced for readers and clickers
Good start to the ascend!
SP is likely to spike next week given vast reserve already set aside for these claims.
Must be, when you look at their accounts they've set aside pretty huge sums to cover hacking. Helps the award given today low at £140,600, so legal costs will make up vast majority of expense.
It's not ideal having a judge rule hacking took place, but the key thing imo is that with award being low will now encourage others to settle.
Priced in?!
Court ruling today
And that is Mullen has been ejected from his role .
He treats RCH like a Labour run council, he can cut as much as he likes , but has no idea how to increase profits from different streams . He has to go and get someone in to kick start this media giant