Since that date we have been in consultations with the staff of Press Gazette but we have also had a number of discussions with other parties with a view to seeing if there was any possibility of securing the ongoing publication of Press Gazette.
We are therefore pleased to announce that earlier today we completed a transaction with Progressive Media for them to acquire Press Gazette. They intend to continue the publication of Press Gazette in both printed and electronic formats. We have also signed an agreement to collaborate with them on The British Press Awards and a number of other Events.
We would like to thank both our staff and our customers for their support during this challenging period. We believe that Progressive will provide an excellent environment in which Press Gazette may prosper. We look forward to working with Progressive over the coming years.