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Elite Client Idea #10

Updated: Nov 28

Reach plc (LSE Ticker: RCH; Price when published: £0.76)

Reach (‘company’) is a UK newspaper and magazine publisher, which owns 130 brands and serves 25% of UK households. It owns prominent national brands such as Daily Mirror, Daily Express, Daily Star, etc. It generates revenues via print (75%) and digital (25%) segments.

The industry suffers from a secular decline in the print business, which it is attempting to offset with digital segment growth – where success is not assured. Currently the industry is exposed to increased newsprint costs and reduced advertiser demand.

The company has specific issues with ongoing lawsuits from the phone hacking scandal in 2011; and legacy pension liabilities.

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