Cripps advises on sale of KM Media Group
Cripps has acted on behalf of longstanding client KM (Holdings) Limited on the sale of KM Media Group Limited to Iliffe Media Limited. KM Media Group publishes nine paid-for and four free newspapers including the Kent Messenger series and KentOnline.co.uk, which has an audience of 2.4m unique monthly browsers. In addition to print and online, the group operates the kmfm radio network, reaching 164,000 listeners each week.
KM Media Group chairman Geraldine Allinson said the deal with Iliffe would allow KM to continue to evolve and bring about much needed investment to maintain its independence and continue to serve the people of Kent with trusted news and other valued content. It also enables KM to resolve the long standing issues surrounding its closed final salary pension scheme.
Cripps worked closely with KM (Holdings) Limited to ensure the successful completion of the sale. The team, led by partner Salim Somjee and assisted by Katie Haylock, Lowri Jones and Laura Wilson advised on all the transaction documentation including the sale documents and banking releases.
Geraldine Allinson commented “The KM Directors found the team at Cripps to be extremely supportive throughout the deal process. Salim and his team were efficient, thorough and diligent whilst still appreciating the critical timeframe involved. Cripps were a ‘legal shoulder to lean on’ through a complicated three party negotiation involving quite a few advisors.”
This deal is the latest of a number in the advertising and media sector for Cripps. For more information see: https://www.cripps.co.uk/sectors/advertising-technology-media/.
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