National World plc, the owner of JPI Media is “actively engaged” in targeting “acquisition opportunities.”
It said that it wasn’t necessarily looking at other news organisations, instead businesses which would “enhance its digital capabilities and broaden its content base beyond news.”
The announcement was made in a trading update, where it added that the second half of the year had been “robust” with its full year results to be “substantially ahead” of expectations. Revenue for the full year is expected to be around £85m.
The group acquired JPI Media for £10.2m in January this year and it said that since that time it had modernised the business “at pace.” This has included “rationalising” its regional management structure, with its North East and North West operations coming together into a single Northern region.
It said that it had delivered annual cost savings over more £5m and would now be undertaking further restructuring to create a “sustainable premium content and sales business.”
