Guernsey Press sold to local investors

Posted: 01/10/2019

The Channel Islands Media Group, a joint venture between Bailiwick Investments and MXC Capital, has purchased the Guernsey Press Company and its wholly owned subsidiary Guernsey Distribution from the Guiton Media Group. 

The deal includes the production and distribution of the Guernsey Press newspaper, including its digital platforms and GY4 You app.

Guernsey Press Managing Director Mark Lewis commented: "This is the beginning of a new era for one of Guernsey’s oldest businesses. We welcome the prospect of technological innovation and are delighted the new owner is intent on driving forward the business whilst maintaining its culture.

"After more than two decades of off-island ownership, we are looking forward to being part of a local company with the knowhow and contacts to develop the business."

Bailiwick Investments, an investment company quoted on The International Stock Exchange, has been investing in Channel Islands businesses for more than a decade. Its portfolio includes shareholdings in Sandpiper CI Group, Jackson’s Group, Guernsey Recycling Group, SigmaRoc and Oatlands. 

MXC Capital is an AIM-quoted investor in, and adviser to, technology companies. CEO Ian Smith commented: "The media landscape has changed significantly in the last decade and technology has been at the heart of those changes. We are looking forward to helping the Guernsey Press develop technology whilst continuing to be a key source of news for the bailiwick."

Ogier advised Guiton Media on the sale of the Guernsey Press Company. A combined team led by Partner Bryon Rees included Senior Associate James Walsh, Senior Associate Michelle Watson-Bunn and Associate William Schofield (corporate and regulatory matters) and Partner Marcus Leese, Senior Associate Chris Hards, Senior Associate Martin Casas and Counsel Rachel Richardson (pensions, property and employment aspects respectively).

Collas Crill assisted Bailiwick Investments and MXC Guernsey with the acquisition. Property Partner Jason Green led the Collas Crill team, alongside Group Partner Paul Wilkes, Senior Associate Tristan Ozanne and Associate Ben Le Page.

 


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