Smiths News has announced that it has successfully secured a new long-term contract with Reach PLC.
Swindon-based Smiths News is the UK's largest news wholesaler, describing itself as a leading provider of early morning end-to-end supply chain solutions.
Reach PLC is the UK's largest commercial news publisher, with over over 120 media brands including the Daily Mirror, Sunday Mirror, The Sunday People, Daily Express, Sunday Express, Daily Star, Daily Star Sunday and OK! magazine.
Smiths News' new contract with Reach, as first referenced in its preliminary financial results published on 5 November, is for all of Smiths News’ current distribution territories in the UK through to 2029, representing revenues of around £160m per annum at current market values.
Smiths News has now formally secured long-term contracts with 91% of its newspaper and magazine revenues.
CEO Jon Bunting said: “I am delighted that we have now formally concluded our new contract negotiations with Reach and look forward to ensuring the widespread access and availability of their titles for readers in communities across the UK.
"The extent of our contracts with major titles continues to demonstrate the pivotal role Smiths News plays in the early morning supply chain.
"We have now secured over 90% of our newspaper and magazine revenues through to 2029 which provides underlying revenue stability in addition to creating a robust platform from which to support our growth ambitions for the business.”
Your Comments
Be the first to comment on this article
Login or Register to post a comment on this article