RE: This is money30 Jul 2023 07:01
The Times article in full
THG founder Matt Moulding pulled off a surprise swoop on financial newspaper City AM last week,
rescuing it from closure. The price was undisclosed, but the word is that the title was available for less than £1 million.
Moulding took to social media to insist he would not be meddling in the editorial line, other than laying down a command that it doesn’t “get dragged over to the dark side”. This is, presumably, a dig at the wider media, which Moulding believes has given his company a rough ride since its float in 2020.
City AM’s founders said he was a “perfect fit” — but the paper hasn’t always been so gushing about the THG boss. “Moulding is no villain but he’s better off not trying to play the hero,” opined an editorial last year. It added: “He is becoming bigger than his company, and that’s a dangerous place to be.”
Wise words. Will the freshly minted media mogul heed them?
At least one pal will be cheering him on. Moulding’s post on the deal received a thumbs-up and a grimace emoji from England footballer Jordan Henderson. Nice of Henderson to take the time, as he was surely busy cementing his own big-money deal — a move to play in Saudi Arabia.