An Irish publisher that already owns a quarter of UK regional group National World has made an offer for the rest of its shares.
Media Concierge’s offer to buy the 71.2 per cent of the company it does not already own at GBP0.21 (A$0.41) a share is reported by industry journal Press Gazette.
Media Concierge owns the Donegal Democrat and Limerick Leader through a subsidiary, and was one of the original backers of National World.
Recently however, National World is reported to have discontinued a sales relationship with Media Concierge’s subsidiary Mediaforce which had handled its national advertising, in favour of an arrangement with competitor Reach.
Media Concierge says its offer is “a significant premium” on National World’s current stockmarket price, and it has led to an initial rise of 20 per cent.
National World was created in 2020 by David Montgomery, based on the assets of the former Johnston Press, which went into administration in 2018; it includes The Scotsman, the Yorkshire Post and the Falkirk Herald, acquired by the canny Johnston family in 1846.
The Denmark family’s Media Concierge (Holdings) company bought Johnston Press’s 14 Irish titles in 2014 through its Mediaforce subsidiary.
Pictured: The Falkirk Herald offices in the 1900s, with neighbours the Buttercup Dairy and Hipps Public Benefit Tailors (photo Falkirk Council).