Wilmington buys Press Gazette

After going into administration, and closing last week, Press Gazette has been bought by specialist information group Wilmington and is back on the newsstand.

The following is a statement from the owners:

Wilmington, the specialist information and training group, has acquired assets from the administrator of Press Gazette Limited and is resurrecting the business by applying the skills and resources of its specialist Business Communications division.

Wilmington has substantial experience in magazines, online information and events as well as the media markets and this is an excellent fit for us. Having previously tried to acquire the business when it was put up for sale by Quantum Business Publishing, this marks a long awaited success for Wilmington.

Charles Brady, CEO of Wilmington Group plc, was very enthusiastic about the acquisition and said: "It has taken us a while, but we have thought for some years now that this business would fit superbly well with Wilmington. We intend to deliver to the journalist and press community publications, events and other information products that will not only enhance their professional lives but that they can identify with and be proud of."

Tony Loynes, the new editor-in-chief, said: "Sadly Press Gazette has missed an issue, but we will be making that up to the loyal readers of the publication. We intend to develop the print, the web presence and events side of Press Gazette.

"Obviously Press Gazette's British Press Awards is the high profile event that is still firmly on schedule for 26 March 2007. We have been deep in discussion with the newspaper owners to ensure we can deliver the best quality event, celebrating excellence within this dynamic and challenging industry.

"We also intend to put equal effort into the Regional Press Awards and the other events that Press Gazette has developed to connect with one of the most important professions in the world.

"We have been enormously encouraged by all those who have expressed their pleasure at the revival of Press Gazette and those who worked hard to try to save the magazine in its dying days. The British journalistic community deserves a magazine of vitality, integrity and self-sufficiency and we will make damn sure they get it."

Today marks the start of a new era for the magazine within a strong, successful and creative company which believes totally in its future and our ability to meet the needs of the community it serves.