LONDON - Global law firm Reed Smith has advised Daily Mail and General Trust plc (DMGT) on the acquisition of New Scientist to its consumer media business, DMG Media, for £70m consideration.
Test tubes

New Scientist, one of the world's leading science publishing titles, has a weekly circulation of approximately 120,000 and a revenue base with about 75 per cent derived from subscriptions. In 2021, the business is expected to generate cash operating income and operating profit of approximately £7m and revenues are expected to exceed £20m.

DMGT manages a portfolio of companies that provide businesses and consumers with compelling information, analysis, insight, events, news and entertainment. In total, DMGT generates revenues of around £1.2bn.

The Reed Smith team advising on the deal was led by partner Delphine Currie and senior associate Daryl Cue, supported by a team including Lawrence Radley (Real Estate), Emma Weeden, Yexi Tran (Corporate), Gareth Amdor, Alia Khalil (Tax), Carl de Cicco (Employment), Will Sutton (Pensions), Philip Thomas, Nick Breen (Tech & Data), Nick Williams, Maccailein Campbell (Finance), and Marjorie Holmes (Competition).