Press Gazette

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Not to be confused with the Green Bay Press-Gazette

Press Gazette, formerly known as UK Press Gazette (UKPG), was for 41 years a British media trade magazine dedicated to journalism and the press. At the time of its closure on 24 November 2006, the title had 2,776 subscribers and a circulation of 4,639, although it had enjoyed higher circulations earlier in its history. Published with the motto Journalism matters. Every week, it contained news from the world of newspapers, magazines, TV and radio, dealing with launches, closures, moves and legislation affecting the press.

Commercially, it was funded by subscriptions and the sale of single copies from newsagents, and by publication of recruitment and classified advertising, as well as occasional display advertising. It also ran the British Press Awards, Magazine Journalism Awards, Magazine Design Awards, Regional Press Awards, Law for Journalists Conference and Student Journalism Awards.

1 History
2 High-profile owners and closure
3 Acquisition and relaunch
4 External links

[edit] History

Press Gazette was launched in November 1965 by Colin Valdar, his wife Jill Valdar, and his brother Stewart Valdar. Upon the Valdars' retirement in 1983, the magazine was sold to Timothy Benn, who sold it on, just three years later, to the Canadian publishing company Maclean Hunter.

In 1994, the magazine was sold again, this time to EMAP. Three years later, the magazine along with Media Week and 12 other titles, was sold again, to Quantum Business Media for £14.1 million.

[edit] High-profile owners and closure

Rupert Murdoch's son-in-law Matthew Freud became the new owner of Press Gazette in May 2005, teaming up with former Mirror editor Piers Morgan to raise £1 million for the title. The purchase was part of the break-up of Quantum Business Media by its owners, the venture-capital group ABN Amro Capital.

On 19 October 2006 Freud announced that the magazine was for sale, citing as a reason indifference in the newspaper industry to the journal.

The company owned by Freud and Morgan, Press Gazette Limited, subsequently entered administrative receivership.

The receivers were unable to find another buyer for the magazine, however, and on 24 November the following statement was posted on the Press Gazette website: "Press Gazette's editorial team would like to thank all of its readers over the past 41 years, and all of those who have given us support in the recent difficult weeks. The magazine's staff was informed tonight by managing director Simon Read that they were being made redundant with immediate effect."

[edit] Acquisition and relaunch

After the publication missed one issue, Wilmington Group plc (LSE: WIL) announced on 5 December 2006 that it had acquired the title. Wilmington Media editorial director Tony Loynes, a former Press Gazette editor, was named the title's new editor-in-chief. [1]