Thursday, May 30, 2024

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Suffolk Gazette to bid for regional newspaper group Archant

EADT publisher Archant is a Suffolk Gazette takeover target

The Suffolk Gazette is preparing to launch a bid to buy Archant, the struggling owner of magazines and newspapers including the East Anglian Daily Times.

Archant put itself up for sale last week as the newspaper industry faces a financial crisis, with falling circulations and advertising revenue.

However, the Suffolk Gazette newspaper is thriving because it publishes stuff people actually want to read.

It is also famous for its accurate reporting on many issues, including goings on in Norfolk.

Lorraine Fisher, 34, a source close to the Suffolk Gazette editor, confirmed: “We’re going through the figures now, but we think we are close to meeting Archant’s six-figure valuation.

“That’s £1,025.99.”

However, Ms Fisher added that Archant’s worrying pension deficit would mean the Suffolk Gazette would have to flog a few more funny mugs from its partner

“Either that or we close down the Norwich Evening News to save costs – no-one can read there anyway.”

The Suffolk Gazette is expected to fight off competition from newspaper mogul David Montgomery and several private investment companies to secure Archant.

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