Midland Independent Newspapers, publishers of the Birmingham Evening Post, is expected to be valued at £193m when it is offered for sale later in the month.
The offer price is 140p per share, which gives a price/earnings multiple of 21 times current year earnings. Morgan Grenfell has underwritten the offer. Applications must be in by next Thursday and dealings begin on 17 March.
NEW REGIONAL TITLE
A new paid-for launches today, the Bath Leader. The independent will initially be a monthly, but may go weekly in September, depending on sales. The 76-page title will have a cover price of 45p and an initial print run of 20,000. The newspaper is published by a former editor of the Bath Weekly Advertiser, Grenville Jones.
The title will cover Bath and surrounding villages.
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