View all newsletters
Sign up for our free email newsletters

Fighting for quality news media in the digital age.

  1. Archive content
April 16, 2003updated 17 May 2007 11:30am

I Feel Good awaits takeover bid after formal ‘approach’

By Press Gazette

An approach has been made that may lead to the takeover of James Brown’s company I Feel Good, publisher of the award-winning men’s magazine Jack.

IFG also publishes Bizarre, Viz, Fortean Times and the official magazine for Leeds FC, Leeds, Leeds, Leeds.

In a statement to the London Stock Exchange, IFG said: “The company announces that it has received an approach that may or may not lead to an offer being made for the company.”

The move comes weeks after brokers warned that IFG’s pending financial results could disappoint and said Jack had yet to achieve the sale it needed to break even. Brokers Evolution Beeson Gregory said it needed to sell 50,000 to 70,000 a month to make money -significantly higher than its original target of 45,000.

IFG said this week it planned to stick to its original target and was on course to achieve that sale by the next ABC results. Managing director Tom Gleeson said Evolution were “not our brokers; they are just making assumptions. In terms of what we have got to get to break even, we are putting out our own year-end figures in a week or so and we have had no reason to change our targets.” He declined to comment on a takeover. “We are a public company so we are inevitably a bid target. Essentially we are always on the market,” he said.

Highbury House, which last month took over Cabal Communications, refused to rule itself out as a bidder. Chief executive Ian Fletcher said: “IFG is a very interesting business in lots of ways.” Dennis Publishing is another potential bidder.

Content from our partners
MHP Group's 30 To Watch awards for young journalists open for entries
How PA Media is helping newspapers make the digital transition
Publishing on the open web is broken, how generative AI could help fix it

By Ruth Addicott

Email pged@pressgazette.co.uk to point out mistakes, provide story tips or send in a letter for publication on our "Letters Page" blog

Select and enter your email address Weekly insight into the big strategic issues affecting the future of the news industry. Essential reading for media leaders every Thursday. Your morning brew of news about the world of news from Press Gazette and elsewhere in the media. Sent at around 10am UK time. Our weekly does of strategic insight about the future of news media aimed at US readers. A fortnightly update from the front-line of news and advertising. Aimed at marketers and those involved in the advertising industry.
  • Business owner/co-owner
  • CEO
  • COO
  • CFO
  • CTO
  • Chairperson
  • Non-Exec Director
  • Other C-Suite
  • Managing Director
  • President/Partner
  • Senior Executive/SVP or Corporate VP or equivalent
  • Director or equivalent
  • Group or Senior Manager
  • Head of Department/Function
  • Manager
  • Non-manager
  • Retired
  • Other
Visit our privacy Policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications.
Thank you

Thanks for subscribing.

Websites in our network