The local paper distributer Newsquest is in selective discussions with rival Archant about a takeover that would join the distributers of the North Wales Pioneer and the Eastern Daily Press.
US-based publisher Gannett owns the regional newspaper publisher Newsquest whereas Archant was acquired by Rcapital Partners in 2020. Archant, owns some of Britain’s best-known local newspapers, including London’s Ham & High Express and the Eastern Daily Press.
For Newsquest, a consolidation with Archant would fill a significant topographical hole due to the latter’s huge presence in East Anglia, where it is based. Archant was officially established in 1845, with the Colman family whose name proceeded to decorate the popular brand of English mustard one of the organization’s founders. It is unclear when Rcapital and Newsquest will sign a formal agreement.
The arrangement saw Archant needing help from the Pension Protection Fund, the business lifeboat, which took a 10% stake in the business. The worth of exchange was hazy on Monday, even though Archant is supposed to convey generally £8m of debt.