Business
Extension of News UK Contract to London Areas
Extension of News UK Contract to London Areas.
About this update from Smiths News Plc
[{"type":"text","content":"\n\n Smiths News PLC\n(\"Smiths News\")\n \nExtension of News UK Contract to London Areas\n \nFollowing the announcement on 12 April 2023 (see RNS Number 8770V) of Smiths News having secured a new five year contract through to 2029 with News UK & Ireland Limited (publisher of The Sun, The Times and The Sunday Times), Smiths News is pleased to announce that it has now additionally been awarded the exclusive distribution of News UK's titles across our existing London distribution areas which News UK currently serves itself under its 'direct to retail' operations (a historic operation unique to News UK and which now sees News UK (like all other publishers) exclusively appoint wholesalers across all the UK for the first time).\nThe new business secured within our existing London distribution areas accounts for c.£27m in current sales value per annum across c.2,500 London retailers who are already served by Smiths News with other publishers' titles. Smiths News expects to commence distribution to these retailers with effect from 13 November 2023.\nAs a result of this extended award, Smiths News is now contracted to distribute News UK titles across all of our current distribution territories through to 2029.\nThis award will also provide a material economic and operational benefit for the London retailers we currently serve, reducing their overall costs of distribution and removing significant complexity from having two suppliers of newspapers within London.\nJon Bunting, Chief Executive Officer, commented:\n\"I am delighted to have reached this extended agreement with News UK. It marks a milestone in our relationship to be distributing News UK titles across our whole network. It is also excellent news for London retailers, reducing costs, removing complexity and making the category much easier to manage on a day-to-day basis. It clearly demonstrates the desire of publishers and wholesalers to promote the long-term sustainability of the newspaper supply chain.\"\n \nENDS\n \n \nEnquiries:\n\n\n\n\n \nSmiths News PLC\nJonathan Bunting, Chief Executive Officer\nPaul Baker, Chief Financial Officer\n\n\n \nVia Buchanan\n\n\n\n\nwww.smithsnews.co.uk\n \n\n\n\n\n\n\n\nBuchanan\nRichard Oldworth / Jamie Hooper / Toto Berger\[email protected]\nwww.buchanan.uk.com\n \n\n\n \n...