Regional media co's Northcliffe & iLiffe planning 'Local World' business to be led by former Mirror CEO, David Montgomery
David Montgomery, former Mirror CEO
The likely combination would see Northcliffe Media
, the regionals arm of Daily Mail & General Trust (DMGT), and Iliffe News & Media
, owner of the Cambridge News
and Hertfordshire Mercury
, pool their regional titles into a new business called Local World
Iliffe's parent company Yattendon Group
would between them own close to 50% of Local World, while Montgomery would also have a stake.
, a speaker at the AOP Digital Publishing Summit
, stepped down from the European newspaper publisher Mecom
in January 2011.
In response to media speculation, DMGT confirms that it is currently in talks regarding the future of Northcliffe Media. No deal or transaction has been agreed but if these talks move to the point where agreement is reached, an announcement will be made to the market.DMGT
It's thought that digital media would be included in the deal, with the Northcliffe Media division including the 'thisis' website brands.
Iliffe News & Media attract a monthly audience of more than 830,000 unique users generating in excess of 6 million page impressions
. They also have a portfolio of three daily newspapers, 25 weekly newspapers and two Sunday newspapers.
According to the Guardian
, the proposed deal is thought to have the support of the hedge fund manager Crispin Odey, while a syndicate of banks are preparing to agree new borrowing facilities for the enlarged group.
About Iliffe News & Media
AN AOP member since 2011, Iliffe News & Media is a leading local media company, delivering news, information and entertainment to more than 2 million consumers through print, online and television.
About Northcliffe Media
Northcliffe Digital is the digital arm of Northcliffe Media. Supporting two market leading regional and local brands – thisis and localpeople. Both these brands, in conjunction with recruitment, motoring and property networks, are a leading force in the regional and local digital market.