Iliffe Media Limited is acquiring Johnston Publishing East Anglia Limited from Johnston Press plc. The deal includes 13 newspaper titles and associated websites in East Anglia and the East Midlands. Iliffe Media are paying £17 million.
The consideration of £17 million represents a 5.3x multiple of operating profit of £3.2 million before exceptional expenses for the 52 weeks ended 2 January 2016.
The deal is expected to complete in mid-January 2017.
UK, Cambridge & Edinburgh
- Johnston Press completes the acquisition of i Posted on April 11, 2016
- Johnston Press to acquire i Posted on February 12, 2016
- Johnston Press sells its Irish titles to Iconic Press Posted on April 1, 2014