Reach has confirmed that it is in the “early stages of discussions” in relation to acquiring certain JPIMedia assets.
In a statement to the London Stock Exchange, Reach chief financial officer Simon Fuller said there was no certainty that the discussions would lead to a transaction.
The response stated: “The Board of Reach plc (“Reach” or the “Company”) notes the recent media speculation and confirms that it is in the early stages of discussions in relation to acquiring certain of JPI Media’s assets.
“As has been previously stated by the Company, regular consideration is given to merger and acquisition opportunities which would accelerate its strategy. “There can be no certainty at this stage that these discussions will lead to an agreed transaction. A further announcement will be made if and when appropriate.”
The statement follows Reach Plc’s acquisition of Northern & Shell Network Limited which included the Express and Star national newspapers and OK! magazine, in 2018.