The Press Gazette, for 41 years the British journalist’s trade journal, will be back on sale this Friday after a one-week hiatus.
In a statement issued today, the Wilmington Group, business publishers based in Kent, announced that they had bought the title.
The magazine had closed after its owners, led by Matthew Freud and former Mirror editor Piers Morgan, failed to achieve industry consensus over the magazine’s press awards, which was the business’s principal income each year.
But last Thursday, it emerged that Tony Loynes, a former editor and publisher of the magazine, now the group editorial director of Wilmington, had entered talks with the magazine’s administrators, and contacted journalists made redundant when the magazine closed to see if they are interested in rejoining it.
Yesterday, confirmation, of sorts, that a deal had been agreed came on the Press Gazette‘s website, which announced that the magazine would reappear later this week, with staff working full-time on the print edition.
And today, Wilmington issued a statement confirming the deal.
“Wilmington, the specialist information and training group, has acquired assets from the administrator of Press Gazette Limited and is resurrecting the business by applying the skills and resources of its specialist Business Communications division.
“Wilmington has substantial experience in magazines, online information and events as well as the media markets and this is an excellent fit for us. Having previously tried to acquire the business when it was put up for sale by Quantum Business Publishing, this marks a long awaited success for Wilmington.”
“It has taken us a while, but we have thought for some years now that this business would fit superbly well with Wilmington,” said Charles Brady, CEO of Wilmington. “We intend to deliver to the journalist and press community publications, events and other information products that will not only enhance their professional lives but that they can identify with and be proud of.”