The Penningtons Manches corporate team, led by partner Chris Owen and supported by Katarina Hrabovska, acted for Newsquest Media Group Ltd in connection with the acquisition of Isle of Wight County Press Group Ltd for an undisclosed sum.
The County Press newspaper, with an average weekly circulation on the Isle of Wight of 25,000, has been owned locally since its foundation over 130 years ago. It has served the island since then, with weekly articles in print and, from 1999, with daily online articles.
Owning over 200 regional newspapers, Newsquest is one of the UK’s largest and most widespread regional news publishers. Based in London, but with titles all over the UK in cities such as Glasgow, York, Newport and Southampton, Newsquest will offer additional resources and expertise to the County Press Group.
This deal typifies Penningtons Manches’ expertise in developmental capital investment, and also its awareness of the need for companies to conduct business according to both local and national considerations.
Chris Owen comments: “We were pleased to act on this acquisition which will combine Newsquest’s resources and expertise with the local knowledge and experience of the Country Press Group.”