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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Daily Mail and General Trust plc    DMGT   GB00BJQZC279

DAILY MAIL AND GENERAL TRUST PLC

(DMGT)
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Daily Mail and General Trust : owner considering bid for Johnston Press' "i" newspaper - Sky

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11/10/2018 | 10:28am EDT
FILE PHOTO: A clock face is seen outside of the London offices of the Daily Mail newspaper in London, Britain

LONDON (Reuters) - The owner of the Daily Mail newspaper has drawn up a plan to make an offer for the "i" title from Johnston Press after the struggling regional publisher put itself up for sale, Sky News reported on Saturday.

Johnston Press, the publisher of The Scotsman, The Yorkshire Post and "i", put itself up for sale in October as it labours under the weight of debt, pension obligations and deteriorating advertising conditions.

Sky News said Daily Mail and General Trust is drawing up plans to make an offer for the "i", a sister title of the Independent which was sold to Johnston Press for 24 million pounds in 2016, when the Independent newspaper became a digital-only publication.

Johnston Press has a 220 million pound bond which is due for repayment next year. Sky said a sale of the "i" could generate between 50 million and 100 million pounds ($65 million-$130 million).

A spokesman for Johnston Press declined to comment on the report about the "i" but said the formal sale process launched on Oct. 11 was ongoing. A representative for DMGT could not immediately be reached for comment.

(Reporting by Kate Holton; Editing by Hugh Lawson)

Stocks mentioned in the article
ChangeLast1st jan.
DAILY MAIL AND GENERAL TRUST PLC 3.41% 697 Delayed Quote.-15.20%
JOHNSTON PRESS PLC -23.75% 2.745 Delayed Quote.-76.13%
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Financials (GBP)
Sales 2020 1 294 M
EBIT 2020 112 M
Net income 2020 64,0 M
Finance 2020 305 M
Yield 2020 3,52%
P/E ratio 2020 22,6x
P/E ratio 2021 16,2x
EV / Sales2020 1,00x
EV / Sales2021 0,96x
Capitalization 1 604 M
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Mean consensus HOLD
Number of Analysts 12
Average target price 734,73  GBp
Last Close Price 703,00  GBp
Spread / Highest target 35,1%
Spread / Average Target 4,51%
Spread / Lowest Target -31,7%
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Managers
NameTitle
Paul A. Zwillenberg Chief Executive Officer & Director
Viscount Rothermere Chairman
Timothy Guy Collier Group Chief Financial Officer & Executive Director
Rob Chandhok Group Chief Technology Officer
Kevin Joseph Beatty Executive Director
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