The publisher of the Daily Mail has bought the New Scientist, one of the world’s leading science magazines, in a £70m deal, reports the Financial Times.
The London-based title has a weekly circulation of approximately 120,000 copies with readers based in the UK, U.S., and Australia. The magazine generates about three-quarters of its revenue from subscriptions and is expected to generate operating profits of about £7m this year on sales exceeding £20m.
Additionally, the plan is also to expand the magazine’s online presence and its events arm, whose projects include the annual New Scientist Live festival.
The purchase “reflects our disciplined approach to acquisitions,” said chief executive Paul Zwillenberg, adding that it was a “natural step in our consumer strategy to improve the quality of our revenues through building up subscriptions and digital capabilities.”
The Indianapolis Business Journal is looking for our next news editor, a role that focuses…
Axios has chosen Ben Berkowitz to be its next managing editor of business and markets.…
Business Insider editor in chief Jamie Heller sent out the following on Monday: I'm thrilled…
Rest of World editor in chief Anup Kaphle sent out the following on Monday: We are excited…
The Financial Times has hired Veena Venugopal as its India newsletter editor. She has been working at…
Benjamin Parkin has been named Middle East and Africa news editor at the Financial Times, based…