Mecom Group
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Mecom Group
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| Type | Public (LSE: MEC) |
|---|---|
| Industry | Publishing |
| Founded | 2005 |
| Headquarters | London, United Kingdom |
| Key people | Stephen Davidson (Executive chairman) |
| Revenue | £982.8 million (2007) |
| Operating income | £(8.0) million (2007) |
| Net income | £(23.8) million (2007) |
| Website | www.mecom.com |
Mecom Group plc (LSE: MEC) is a newspaper publishing company headquartered in London, United Kingdom.
It is listed on the London Stock Exchange and was a constituent of the FTSE 250 Index until 22 December 2008, when it became one of three media companies to fall out of the index.[1]
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Contents
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History
The company was founded in 2005 by David Montgomery, a former CEO of the Mirror Group and former editor of The Sun, Daily Mirror, News of the World and Today.[2]
Mecom was first listed on the Alternative Investment Market in 2005.[3]
In 2008, Mecom was admitted to the main list of the London Stock Exchange.[4]
Growth through acquisition
- 2005: In conjunction with the American media private equity firm Veronis Suhler Stevenson, the company acquired Berliner Verlag, publisher of the Berliner Zeitung and the Berliner Kurier.[5]
- 2006: Mecom bought Germany's oldest newspaper, the Hamburger Morgenpost,[6] and the Dutch Media Groep Limburg.[7]
- 2006: Mecom acquired Orkla Media, a Norwegian Group which includes Edda Media, Berlingske Officin and Rzeczpospolita.[8]
- 2007: The company bought a controlling stake in the Dutch publishing group Wegener.[9]
Operations
In 2010, half the revenue and three-quarters of the profit comes from the Dutch Wegener group. Mecom is considered no more than a holding company with more debts (370 mil.) than stock value (320 mil.).[10]
The Company owned around 300 titles and has had substantial operations in the Netherlands, Denmark, Norway, Germany and Poland.[11] However, in 2009, Mecom sold all their newspapers in Germany to M. DuMont Schauberg and large parts of their newspapers in Norway.
References
- ^ Trinity Mirror, Johnston Press and Mecom crash out of FTSE 250
- ^ FT.com Profile: Mecom
- ^ Brokers cut Mecom's pre-tax profit forecast
- ^ UK's Mecom expects to list on the Main Market in mid-April
- ^ Brook, Stephen (October 25, 2005). "Montgomery concludes German publisher deal". The Guardian (Guardian Media Group). http://www.guardian.co.uk/media/2005/oct/25/pressandpublishing.business. Retrieved 2008-08-19.
- ^ Hamburger Mogenpost deal confirmed
- ^ Montgomery buys Dutch double
- ^ Montgomery buys into Norwegian Media Company
- ^ Former Mirror editor to buy Dutch publisher
- ^ http://www.gelderlander.nl/algemeen/dgeconomie/7409667/Wegenerlont-smeult-richting-kruitvat.ece
- ^ Mecom Group Companies
External links
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