Barclay Brothers Set To Sell The Business

The Barclay brothers have reportedly drawn up a plan to sell their national weekly newspaper, The Business.

According to confidential documents obtained by the Financial Times, a possible management buy-out of The Business has been under consideration for some time. It is understood that lawyers acting for the Barclays have exchanged letters with City advisers outlining the potential structure of a deal.

It has been suggested that Andrew Neil, publisher of both The Business and The Scotsman could lead any planned buy-out. However, Mr Neil is understood to have dismissed the speculation, claiming the rival publication was trying to “destabilise” his business.

The Business, which was previously known as the Sunday Business, has had a turbulent time since its launch four years ago. In 2001 the the paper’s owners signed a three-year refinancing deal with the Press Association (see Sunday Business Averts Closure).

Following this the troubled paper relaunched as The Business in January 2002 and cut its cover price by half to 50p (see Sunday Business Set For Relaunch).

ABC circulation figures for the six month period ending December 2002 brought some good news for The Business, which saw its circulation rise 53.6% year on year to 88,049, up from 57,335 in the same period in 2001.

The Business: 0207 961 0082

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