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.

Avocats associés à cet article: Delphine Currie Daryl Cue Lawrence Radley Emma Weeden Yexi Tran Gareth Amdor Alia Khalil Carl De Cicco William Sutton Philip Thomas Nick Breen Nicholas Williams Maccailein Campbell Marjorie C. Holmes

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).