LONDON - Smiths News PLC (LSE: SNWS), the UK's leading news wholesaling company, has announced the renewal of a significant contract with Reach PLC, the nation's largest commercial news publisher. This long-term agreement extends through to 2029 and covers all of Smiths News' current distribution territories within the United Kingdom (TADAWUL:4280).
The contract reaffirms the partnership between the two companies, with Smiths News responsible for the distribution of prominent Reach PLC titles such as the Daily Mirror, Sunday Mirror, The Sunday People, Daily Express, Sunday Express, Daily Star, Daily Star Sunday, and OK! magazine. The deal is reported to represent annual revenues of approximately £160 million at current market values.
This renewal comes on the heels of Smiths News' preliminary financial results released on November 5, 2024, and it is a continuation of the company's strategy to secure its revenue streams. With this agreement, Smiths News has now formally secured long-term contracts accounting for 91% of its newspaper and magazine revenues.
Jon Bunting, Chief Executive Officer of Smiths News, expressed satisfaction with the conclusion of the negotiations and emphasized the company's commitment to ensuring the availability of Reach's titles to readers across the UK. He highlighted the importance of the contract in providing revenue stability and supporting the company's growth ambitions.
The deal underscores Smiths News' pivotal role in the early morning supply chain for newspapers and magazines, ensuring that these publications reach their readers consistently and on time. The information disclosed is based on a press release statement from Smiths News PLC.
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