Mr. Williams: DMGT is one of the largest media companies in the U.K. We are a constituent of the FTSE 100 index and have a market capitalisation approaching 3.6 billion GBP. Our dominant business is the publication of newspapers in the United Kingdom, although we are diversifying away from that gradually; approximately 70% of our business is in U.K. newspapers. We have two dominant national titles in the middle market called the 'Daily Mail', which comes out every Monday to Saturday, and the 'Mail on Sunday', which comes out on Sundays. We own the only paid for newspaper for London, the 'Evening Standard', and we just recently launched a big free newspaper here in London called 'Metro.' We also have one of the largest provincial newspaper groups called Northcliffe Newspapers. It owns daily morning titles in the West of England and the North of Scotland; daily evening titles in 14 cities around the U.K., in Grimsby, Leicester, Derby, Nottingham, and so on; a number of weekly titles, a weekly circulation of 1.7 million free papers and a significant contract printing business. We also have a number of other divisions. We own 71% of 'Euromoney Institutional Investor', the publisher for the financial community. As its name suggests, it owns 'Euromoney Institutional Investor' in the U.S., as well as a range of other titles and event businesses in the financial and other cross-boarder markets. We then own the text service on analogue television in the U.K., called 'Teletext', which is an information and essentially classified advertising, mainly holiday service. We have a radio division, which has a small interest in the U.K. and a large Australian division, where we have 56 radio stations. And we have an exhibition business which is about the sixth or seventh largest in the world now, particularly in areas like Home Shows, and also in certain categories on the trade side. Indeed, recently, we announced the acquisition of the Californian Gift Show. Finally, we have an information publishing division which has an educational publishing company and training business, and two companies based in the U.S., one providing information for the insurance industry, and one providing information on environmental risk.
Tickers included in this excerpt: DMGO.L
For more information call (212) 952 7433. The Wall Street Transcript does not endorse any of the comments made by interviewees, and does not make stock recommendations.