{"id":362157,"date":"2021-11-03T22:41:02","date_gmt":"2021-11-03T19:41:02","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/daily-mails-aristocratic-owners-set-to-take-tabloid-private\/"},"modified":"2021-11-03T22:41:02","modified_gmt":"2021-11-03T19:41:02","slug":"daily-mails-aristocratic-owners-set-to-take-tabloid-private","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/daily-mails-aristocratic-owners-set-to-take-tabloid-private\/","title":{"rendered":"#Daily Mail\u2019s aristocratic owners set to take tabloid private"},"content":{"rendered":"<p>&#8220;<strong>#Daily Mail\u2019s aristocratic owners set to take tabloid private<\/strong>&#8221;<\/p>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>The publisher of the\u00a0Daily\u00a0Mail\u00a0said Wednesday its founder and controlling shareholder, the Rothermere family, had agreed to terms to take the company private, comprising a cash, dividends and shares offer valued at 1,263 pence (about $17.24) a share.<\/p>\n<p>The Rothermeres announced their plan to buy out other shareholders in July, with the move dependent on the sale of the company\u2019s insurance business, Risk Management Solutions, and a listing of online car seller Cazoo, which it partly owns.<\/p>\n<p>Both conditions have been fulfilled.<\/p>\n<p>Under the terms of the offer, shareholders will receive 255 pence in cash, a special dividend of 568 pence and 0.5749 Cazoo shares for each share.<\/p>\n<p>The value of the offer is slightly higher than indicated in July, and represents a 21.5% premium to the closing price of the stock on the day before the plan was announced.<\/p>\n<p>However, one large investor, Majedie Asset Management, said the offer was \u201csubstantially below\u201d what it believes is a fair and reasonable valuation.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/iowners-taking-daily-mail-private3.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Masthead of the Daily Mail\" class=\"wp-image-20021929\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/iowners-taking-daily-mail-private3.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/iowners-taking-daily-mail-private3.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/iowners-taking-daily-mail-private3.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Daily Mail\u2019s owners\u2019 move to take the tabloid private was dependent on the sale of the company\u2019s insurance business, Risk Management Solutions, and a listing of online car seller Cazoo, which it partly owns.<\/figcaption><figcaption><span class=\"credit\">PA Images via Getty Images<\/span><\/figcaption><\/figure>\n<\/div>\n<p>The\u00a0Daily\u00a0Mail\u00a0was first published in 1896 by the ancestors of DMGT chairman Jonathan Harmsworth, the Viscount Rothermere.<\/p>\n<p>He said DMGT was a considerably smaller business following the sale of RMS and the listing of Cazoo, with significantly greater exposure to consumer <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>.<\/p>\n<p>\u201cWe believe the terms of our offer to be fair, particularly bearing in mind not only the existing level of debt within DMGT at a time of increasingly difficult market conditions, but also the restrictions imposed on the operation of the business as part of the settlement with the pension trustees,\u201d he said.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/owners-taking-daily-mail-private2.jpg?quality=90&amp;strip=all&amp;w=1024\" alt=\"Jonathan Harmsworth\" class=\"wp-image-20021843\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/owners-taking-daily-mail-private2.jpg?quality=90&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/owners-taking-daily-mail-private2.jpg?quality=90&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/owners-taking-daily-mail-private2.jpg?quality=90&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>The Daily Mail was first published in 1896 by the ancestors of DMGT chairman Jonathan Harmsworth, the Viscount Rothermere.<\/figcaption><figcaption><span class=\"credit\">PA Images via Getty Images<\/span><\/figcaption><\/figure>\n<p>DMGT\u2019s liquidity has been constrained by its dual-share structure, with voting rights only granted to some stock, tightening the family\u2019s hold on the company.<\/p>\n<p>The Rothermeres and their associates control 30.3% of the A shares and all of the ordinary shares.<\/p>\n<p>Chris Field, a fund manager at Majedie, said non-family shareholders did not have as much information as the Rothermeres. Majedie owns 4.6% of DMGT A shares on behalf of its clients.<\/p>\n<p>\u201cOur <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>raised valuation estimate of only the largest businesses within DMGT materially exceeds double the current offer price of 255 pence,\u201d he said in a statement. \u201cWe strongly urge shareholders not to accept the offer.\u201d\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2021\/11\/03\/daily-mails-aristocratic-owners-set-to-take-tabloid-private\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#Daily Mail\u2019s aristocratic owners set to take tabloid private&#8221; The publisher of the\u00a0Daily\u00a0Mail\u00a0said Wednesday its founder and controlling shareholder, the Rothermere family, had agreed to terms to take the company private, comprising a cash, dividends and shares offer valued at 1,263 pence (about $17.24) a share. The Rothermeres announced their plan to buy out other&#8230;<\/p>\n","protected":false},"author":1,"featured_media":362158,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/11\/owners-taking-daily-mail-private.jpg?quality=90&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[118406,102845,73711,4946,5084],"class_list":["post-362157","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-11-3-21","tag-daily-mail","tag-investments","tag-newspapers","tag-publishing"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/362157","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=362157"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/362157\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/362158"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=362157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=362157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=362157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}