The IWCP Board had unanimously recommended the offer to shareholders as providing the best way forward for the company to be able to succeed in today’s media landscape. At the shareholders’ EGM, 100% of votes were cast in acceptance of the Newsquest offer, says the company.
Henry Faure Walker, Newsquest's CEO commented: “We’re looking forward to working with the Isle of Wight County Press staff, operating as they do one of the country's strongest local news brands, and supporting them in building a more sustainable future.
“We want to facilitate a structure whereby they can benefit from the scale and resources that Newsquest can provide whilst enabling them to carry on doing what they do best – namely providing a first class and unrivalled local editorial and advertising platform for the people of the Isle of Wight and its businesses.”
A number of the IWCP Board members will continue to serve on an IWCP Local Advisory Board.
In addition to one of the country’s leading weekly local newspapers, and associated websites, IWCP runs a specialist digital agency (Matrix Ltd) and a commercial printing press (Crossprint Ltd).
