Dennis Publishing and Immediate Media Co – joint-owners of subscriptions bureau Dovetail Services – have decided not to renew their joint venture agreement when it expires in April this year.
Posted on: 31 January 2017 06:27
Dovetail Services Managing Director Rupert Miles
The owners believe that the current market is over-served by existing providers and consolidation is inevitable. Additionally, say the joint owners, Dovetail has been consuming cash for some time and the investment required in the business no longer matches the opportunity in an uncertain market context. After several months of consideration, and given the range and strength of existing providers in the market, the owners say they have concluded it’s no longer in the best strategic interests of either shareholder to maintain ownership of a subscriptions management operation.
The shareholders have agreed to extend the joint venture to 31st January 2018 so that the company can continue to trade through 2017, while it undergoes a well-managed closure process. Alongside Dennis and Immediate, Dovetail provides subscriptions management services to a roster of independent publishers. Dovetail will now be focused on ensuring a smooth transition of services for all clients during 2017. Meanwhile, Dovetail staff affected by the decision are in consultation with management.
Dovetail Services Managing Director Rupert Miles says: “I believe that Dovetail staff have achieved much over the time that I have been with the company. I’m very proud of them and would like to thank them for their energy, enthusiasm and professionalism. Now, mindful of the wishes of the shareholders, I and the Dovetail team will focus our attention on ensuring all our clients are transitioned out of Dovetail as smoothly as possible.”
Featured Supplier Video
Association of Circulation Executives
A vibrant, celebratory atmosphere was prevalent at the London Marriott Grosvenor Square on Thursday 3rd May 2018 as ACE hosted The Newspaper & Magazine Awards. The Newspaper and Magazines awards this year was a truly memorable event and we are already getting ready for next year. Entry will be open from January 2019 and we want to hear from you. Have you gone out on a limb, pushing the boundaries of your title, yourself and your team? Have you seized the initiative, persevered with your strategy and achieved exceptional performance? For more information, click here
Most read on InPublishing
These are the most read stories on the InPublishing website over the last 14 days, in order from the top.
This list is based on data from Google Analytics, and is refreshed every 24 hours. (Last updated: 14/08/2018 05:15)