Daily Mail and General Trust P L C (DMGOa.L)
Tue, Mar 13 2018
* SILVER LAKE PARTNERS AND BATTERY VENTURES WILL ACQUIRE EDR FOR $205 MILLION Source text for Eikon: Further company coverage: (Reporting By London Bureau)
* SAYS APPOINTMENT OF KAREN WHITE AS CEO OF RMS, ITS INSURANCE RISK BUSINESS, REPLACING HEMANT SHAH, CURRENT CEO Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)
* OUTLOOK FOR YEAR UNCHANGED AND IN LINE WITH CURRENT MARKET EXPECTATIONS
LONDON, Jan 10 Is Daily Mail & General Trust (DMGT) a newspaper company struggling to diversify away from a declining industry? Or a kind of private equity fund whose investments may soon start to pay off?
* Shares fall as much as 25 percent (Adds further quotes from analyst presentation)
LONDON (Reuters Breakingviews) - The Daily Mail is finally succumbing to the media industry’s malaise. After years of defying gravity while rival publishers watched circulation and revenue crash, the right-wing tabloid’s parent company expects its media business to shrink next year. That complicates boss Paul Zwillenberg’s plan to show that Daily Mail and General Trust is more than a struggling publisher.
* CONSUMER: ENCOURAGING PERFORMANCE FROM DMG MEDIA; REVENUE UP UNDERLYING 1%, ADJUSTED PROFIT UP UNDERLYING 10%, WITH MAILONLINE MOVING INTO OPERATING PROFIT DURING FINAL QUARTER