Last checked at 10 Jan 2023 07:00
This announcement contains inside information
Smiths News PLC
("Smiths News")
Contract Renewal with Telegraph Media Group Limited ("TMG")
Smiths News is pleased to announce that it has successfully secured a new long-term contract with Telegraph Media Group, publisher of the 'Daily Telegraph' and 'Sunday Telegraph', through to 2029.
The agreement with TMG is the fourth major publisher contract renewal secured by Smiths News this year, following new 5 year agreements with each of Associated Newspapers, Frontline and Seymour.
The new agreement with TMG is for all of Smiths News' current distribution territories in the UK through to 2029, representing 11% of newspaper and magazine revenues.
Smiths News has now secured long-term contracts with 46% of its newspaper and magazine revenues.
Jon Bunting, Chief Executive Officer, commented:
"I am very pleased that we can start 2023 with further positive news on our contract renewals by announcing that we have agreed a new contract with Telegraph Media Group. It marks a further step in securing our newspaper and magazine revenues for the long term. The Telegraph represents over 10% of our revenues and we look forward to further developing our close working relationship them in the years ahead."
Enquiries:
Smiths News PLC Via Buchanan
Jonathan Bunting, Chief Executive Officer
Paul Baker, Chief Financial Officer
www.smithsnews.co.uk
Buchanan
Richard Oldworth / Jamie Hooper / Toto Berger 020 7466 5000
smithsnews@buchanan.uk.com
www.buchanan.uk.com
Person responsible for arranging release of this announcement:
Stuart Marriner
General Counsel & Company Secretary
Smiths News plc
Rowan House
Cherry Orchard North
Kembrey Park
Swindon
SN2 8UH
email: cosec@smithsnews.co.uk