Smiths News PLC Extension of News UK Contract to London Areas (2795Q)

TIDMSNWS

RNS Number : 2795Q

Smiths News PLC

17 October 2023

Smiths News PLC

("Smiths News")

Extension of News UK Contract to London Areas

Following the announcement on 12 April 2023 (see RNS Number 8770V) of Smiths News having secured a new five year contract through to 2029 with News UK & Ireland Limited (publisher of The Sun, The Times and The Sunday Times), Smiths News is pleased to announce that it has now additionally been awarded the exclusive distribution of News UK's titles across our existing London distribution areas which News UK currently serves itself under its 'direct to retail' operations (a historic operation unique to News UK and which now sees News UK (like all other publishers) exclusively appoint wholesalers across all the UK for the first time).

The new business secured within our existing London distribution areas accounts for c.GBP27m in current sales value per annum across c.2,500 London retailers who are already served by Smiths News with other publishers' titles. Smiths News expects to commence distribution to these retailers with effect from 13 November 2023.

As a result of this extended award, Smiths News is now contracted to distribute News UK titles across all of our current distribution territories through to 2029.

This award will also provide a material economic and operational benefit for the London retailers we currently serve, reducing their overall costs of distribution and removing significant complexity from having two suppliers of newspapers within London.

Jon Bunting, Chief Executive Officer, commented:

"I am delighted to have reached this extended agreement with News UK. It marks a milestone in our relationship to be distributing News UK titles across our whole network. It is also excellent news for London retailers, reducing costs, removing complexity and making the category much easier to manage on a day-to-day basis. It clearly demonstrates the desire of publishers and wholesalers to promote the long-term sustainability of the newspaper supply chain."

ENDS

Enquiries:

 
 
   Smiths News PLC                          Via Buchanan 
   Jonathan Bunting, Chief Executive 
   Officer 
   Paul Baker, Chief Financial Officer 
 www.smithsnews.co.uk 
 Buchanan 
  Richard Oldworth / Jamie Hooper 
  / Toto Berger 
  smithsnews @buchanan.uk.com 
  www.buchanan.uk.com                       020 7466 5000 
 News UK 
  Libby Darcy, External Comms Manager, 
  News UK 
  libby.darcy@news.co.uk                  +447442328933

About Smiths News PLC

Smiths News PLC and its core business, Smiths News, is the UK's largest newspaper and magazine wholesaler, with approximately 55 per cent. market share. It distributes newspapers and magazines on behalf of the major national and regional publishers, delivering to approximately 23,000 retail outlets across England and Wales. The speed of turnaround and the density of Smiths News' coverage is critical to one of the world's fastest physical supply chains.

Ancillary businesses include: Smiths News Recycle, which collects plastic and cardboard waste from Smiths News' customers for recycling; Dawson Media Direct (DMD) which supplies airlines and travel points with news and media; and Instore, which offers field marketing services to retailers and suppliers across the UK.

Person responsible for arranging release of this announcement:

Stuart Marriner, General Counsel & Company Secretary

Smiths News plc

Rowan House

Cherry Orchard North

Kembrey Park

Swindon

SN2 8UH

email: cosec@smithsnews.co.uk

About Newsprinters

Newsprinters encompasses our three strategically located print centres at Knowsley, Eurocentral and Broxbourne. These centres provide print and distribution services for clients across the industry.

Newsprinters triple width presses each produce over 80,000 copies per hour feeding into our time-sensitive nationwide logistics network. Operating 364 days a year, our print, distribution and direct to retail/consumer services have the firepower to deliver for the industry. Whether you are looking to distribute your title nationally, through the mail or locally, Newsprinters have a range of bespoke services to help you get to market as efficiently as possible. Find out more here: https://newsprinters.co.uk/

About News UK

One of the leading media businesses in the UK and Ireland, our newsbrands include The Times, The Sunday Times, The Sun, The Sun on Sunday and The TLS. Our national broadcast brands include talkSPORT, Times Radio and Virgin Radio UK, and we have market-leading local radio stations across Ireland. In April 2022 we launched TalkTV, a major new TV channel available to everyone across the UK, delivering a schedule of news, current affairs, entertainment and sport, with Piers Morgan in a primetime evening show. Our world-famous brands provide news, analysis, opinion and entertainment to almost 40 million people each month. Spanning digital and print, audio and video, events and experiences, our brands are home to a plurality of opinion, representing the diverse communities we serve. News UK is wholly owned by News Corp. News Corp (Nasdaq: NWS, NWSA; ASX: NWS, NWSLV)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

CNTMFBATMTJBBPJ

(END) Dow Jones Newswires

October 17, 2023 02:00 ET (06:00 GMT)

Smiths News (AQSE:SNWS.GB)
과거 데이터 주식 차트
부터 11월(11) 2024 으로 12월(12) 2024