Smiths News wins Telegraph deal worth GBP40 million a year
Smiths News PLC on Thursday said it has secured a new long-term exclusive distribution contract with Telegraph Media Group Holdings Ltd, extending its partnership through to September 2036.
The Swindon, England-based newspaper and magazine wholesaler said the agreement expands its exclusive distribution territories to cover all of Great Britain from October 2027, generating approximately £40 million in additional annual revenue.
The deal, which covers The Daily Telegraph and The Sunday Telegraph, is on enhanced commercial terms for Smiths News.
Together with contracts secured in June and July with News UK, Associated Newspapers, Frontline and Seymour, Smiths News said it has now secured around 61% of the national newspaper and magazine market once the agreements take effect.
The company said its previous guidance on implementation costs, network expansion benefits, dividends and financing arrangements remains unchanged.
It expects to provide further guidance on the financial impact of the contracts alongside its preliminary annual results on November 4.
Chief Executive Officer Jonathan Bunting said: "This represents another key step in expanding our network footprint to cover the whole of Great Britain, ensuring that consumers are able to access and consume news and magazine content for many years to come."
Smiths News were 2.7% higher at 77.60 pence in London on Thursday afternoon.
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