Connect Group has secured an extension to its major distribution contract with Daily Mirror publisher Reach.
Connect-owned Smiths News has agreed a new deal that will run from October 2019 to September 2024, securing annual revenue of circa £220m, the group said in a statement to investors.
Reach's newspaper portfolio also includes the Sunday Mirror, People, Daily Express, Daily Star, Sunday Express and Daily Star Sunday.
The contract also covers Reach's regional press business and OK! magazine. In total, Reach accounts for approximately 25% of Smiths News' newspaper sales.
Jos Opdeweegh, CEO of Connect Group, said: "I am delighted that we have agreed a new contract with Reach.
Read more
- Connect Group targets return to profit for Tuffnells; puts £35m of property up for sale
- Frontline deal brings Connect Group ray of hope in bleak year
- Connect Group secures News UK deal worth £200m a year
“The accelerated renewal of Smiths News' contracts is a strategic priority and we have now secured approximately 54% of our sales, including our largest newspaper and magazine partners.
“We are confident our remaining contracts can also be agreed, underpinning our plans for a sustainable recovery in the performance of the group," he said.
