18 Apr 2017 07:00
18 April 2017
Daily Mail and General Trust plc (DMGT)
Disposal of Elite Daily
DMGT announces the sale of Elite Daily to Bustle Digital Group, increasing DMGT's portfolio focus, consistent with DMGT's strategy presented on 1 December 2016.
The sale enables DMGT's consumer division, dmg media, to concentrate its digital resources on MailOnline, particularly in the US where MailOnline remains committed to expanding its editorial offering and growing its audience on the web, on Snapchat Discover and on DailyMailTV, which launches in the autumn of 2017. The sale of Elite Daily enables MailOnline to focus its US sales and marketing team on strategic commercial partnerships with the resulting changes marking a significant step forward on the path to profitability. In the six months to March 2017, MailOnline grew its revenues by approximately 20% on an underlying basis, including underlying growth in excess of 25% in the US.
Further information on dmg media's progress, including MailOnline, during the first six months of FY 2017 will be released with DMGT's Half Year results on 25 May 2017.
For further information
For analyst and institutional enquiries: | |
Adam Webster, Head of Management Information and Investor Relations | +44 20 3615 2903 |
For media enquiries: | |
Kim Fletcher / Simone Selzer, Brunswick Group | +44 20 7404 5959 |
About DMGT
DMGT manages a diverse, multinational portfolio of companies, with total revenues of almost £2 bn, that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. DMGT is also a founding investor and the largest shareholder of Euromoney Institutional Investor PLC and ZPG Plc.