Archant sale of The New European to consortium

Mills & Reeve has advised on the sale of The New European newspaper to a consortium of 14 investors led by the newspaper’s chief content officer and former Daily Mirror executive Matt Kelly, and including former New York Times CEO Mark Thompson and Lionel Barber, a previous editor of the Financial Times.

Archant, the community media business based in Norwich, publishes local newspapers, magazines, online news, and has an extensive digital offering including video and content marketing.

Mills & Reeve advised Archant during a major restructuring project in 2020, which saved 1,200 jobs and saw the 175-year old business given a new lease of life as it was backed by R Capital.

The New European was founded in 2016 by Archant following the EU referendum and provides the latest news, commentary and analysis on Brexit. Its readership is aimed at those who voted to remain within the European Union, with the newspaper's original tagline being "The New Pop-up Paper for the 48%”.

Alex Kenworthy, who advised Archant on the transaction commented “For many in this country, The New European remains an important medium through which their views and opinions on Brexit can continue to be heard, despite the UK leaving the EU. Matt and has team are clearly very passionate on this subject and The New European remains in very safe and capable hands. I wish Matt and his team every success”.

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