Well, it seems the newspaper industry's trade mag Press Gazette is not defunct after all. As previously reported, the title was put into administration by its former owners Matthew Freud and Piers Morgan last month, and after a last minute attempt to persuade the big newspaper groups to fund a trust to buy the title failed, the magazine was closed down last week. But, after reports earlier this week that a new buyer had been found, the company's administrators have confirmed they have sold the title to the Wilmington Group, who bid against Freud and Morgan the last time the magazine was on the market. Their ownership will take immediate effect, to the extent an albeit reduced issue should be out this week.
Wilmington Group CEO Charles Brady said in a statement this week: "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, who will be the title's new Editor-in-chief, added: "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".
Some of the magazine's former editorial team are involved in this week's issue - though it is as yet unclear how many of that team will now join Wilmington.