Newsquest Media this morning announced that it has bought Westminster Press from Pearson for £305 million.
Westminster Press has a total circulation approaching 2.2 million and had a reported turnover of over £140 million in 1995. Its 60 titles will be added to the 120 already owned by Newsquest. The combined company will have a turnover of over £280 million and assets of over £500 million.
Westminster was put up for sale at the end of June mainly because Pearson wanted to concentrate on its education and entertainment markets *(Newsline 26/06). Its purchase by another regional press company reinforces an emerging trend of consolidation in the regional sector: at the start of June EMAP sold its regional business to Johnston Press *(Newsline 04/06) and last November Reed Elsevier sold off its regional press which then became Newsquest Media *(Newsline 23/11/95).
* MediaTel subscribers only
Newsquest Media: 0171 420 2700
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