David Elms, KPMG’s UK head of media comments on the back of the planned mergers between Random House and Penguin and the acquisition of Northcliffe, the regional division of the Daily Mail and General Trust, by Yattendon, a media and property group:
“The pace of consolidation in the sector is definitely accelerating, a few years ago the alliances and partnerships that are being formed today would have been unthinkable.”
“The simple truth is, the fast growing competition from digital has forced consumer publishing businesses into challenging their business models and making tough choices.”
“The proposed alliances will not only enable the businesses involved to share costs and streamline many of its business processes. They will hopefully give them more capital and more options to invest into new business ventures as the media industry continues on its unstoppable shift from print to digital delivery.”
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