Moneyweek magazine sold to Dennis
Leading finance magazine Moneyweek has been acquired by Dennis, in a deal advised by BCMS.
The brand will join Dennis’ Current Affairs division, which include award winning, market-leading titles, The Week and The Week Junior, TheWeek.co.uk and The WeekDay app.
Founded by The Week creator, Jolyon Connell, and Merryn Somerset Webb, editor-in-chief of MoneyWeek, the magazine was launched in 2000. The title takes a similar editorial approach to The Week. Agora Publishing published the title from 2003 onwards, and grew both its audience and brand extensions, cementing MoneyWeek’s reputation for ‘straight-talking’ advice in the market.
James Tye, CEO of Dennis, said: “MoneyWeek is a perfect addition to the growing Dennis Current Affairs portfolio. MoneyWeek already shares some of The Week’s editorial DNA, so it will be a perfect companion to other titles in the portfolio and greatly increase our opportunities in the key financial services market. With such a natural fit between the titles, there will be many ways in which we can cross-promote MoneyWeek to both readers and advertisers.
“Dennis is committed to growing our four areas of excellence through launch, investment and acquisition. We acquire brands with a view to invest and grow their reach, which is exactly what we plan to do with MoneyWeek.”
“The acquisition team at Dennis worked extensively with Jonathan at BCMS, who was instrumental in keeping both sides engaged and talking in this complex transaction. As a buyer, he helped us streamline our issues and was professional and responsive at all times.”
Editor and Co-founder Merryn Somerset Webb, as well as Editor John Stepek, will continue to edit the title under Dennis’ ownership. The team will transfer to new central London offices in Alfred Place over the coming weeks.
Moneyweek was advised by BCMS, with legal support from Field Fisher LLP. The terms and value of the deal are undisclosed.
BCMS Lead Advisor Jonathan Tate commented: “We were appointed 10 months ago to sell Moneyweek, and as expected, there was huge interest from the market resulting in several offers. In the end, Dennis won the day as both the senior staff and new owners have similar ideas on how to take this premium brand to the next level.”