Following the announcement of radio growth in March, DC Thomson Media’s acquisition of PSP Media is another key step in transforming the business from traditional publisher to modern media creator, says the company.
Having bought No.1 magazine from PSP Media in 2015, a number of adjacencies and synergies were identified between the two businesses. This acquisition enters DC Thomson Media in to new markets including both B2B and B2C events and exhibitions of scale, and contract publishing.
Mike Watson, Chief Executive Officer at DC Thomson Media, said, “I’m thrilled to have Paul, Tom and the PSP team join the business. At DC Thomson Media we are working to protect our core newspaper and magazine business whilst achieving sustainable business growth. The diversification into new sectors that PSP Media brings is an exciting opportunity for everyone involved.”
PSP Media will continue to operate from Speirs Wharf in Glasgow.
Paul Grant, Managing Director of PSP, said, "My fellow director Tom Lovering and I are delighted that our company, formed 23 years ago in order to launch bunkered magazine, is now part of an institution as great as DC Thomson Media. This acquisition is an extremely exciting opportunity for the company, our staff and our ever-increasing stable of events and publications. Both Tom and I are very much looking forward to continuing to grow the PSP portfolio with the support being part of DC Thomson Media brings."
Following the acquisition, the focus for DC Thomson Media is to ensure a smooth integration of the businesses, and to continue to deliver the highest quality publications and events to their consumers, says DC Thomson Media.