Daily Mail publisher DMGT buys the i for £50m

DMGT, publisher of the Daily Mail, MailOnline and the Metro, has acquired UK national newsbrand the i from JPI Media for £49.6m.

Lord Rothermere, chairman of DMGT, said the i is a “highly respected publication with a loyal and engaged readership”, adding that the publisher is “committed to preserving its distinctive, high quality and politically independent editorial style.”

“The acquisition of the ‘i’ is both strategically and financially compelling for DMGT and there is scope for potential synergies in the future, notably from dmg media’s existing infrastructure and in advertising sales,” he said.

Rothermere added that the i will benefit from DMGT’s “commitment to investing in editorial content” and that the publisher sees “good opportunities” to develop the newsbrand’s presence online.

The i recorded a circulation of just over 220,000 in October according to the latest ABCs, down -7.7% year-on-year. The latest PAMCo figures put its total monthly brand reach at just under 6.6 million.

DMGT said in a statement that it anticipates a review of the acquisition by the UK Competitions and Markets Authority.