The arrangement sees DC Thomson, one of the founding investors, bolstering its interest in the business. The new board structure does not affect the management or operations of the company, though some early investors and non-executive Directors including Sir David Arculus, Kris Thykier and Pierre Lagrange will stand down from the Board.
Since launch in 2007 Shortlist Media has grown from an ambitious start-up with a team of 25 on a single title to an established, award-winning, multi-platform, international business with over 150 staff, says the company.
CEO Mike Soutar says: “We could not have created such record breaking growth without distinctive brands, brilliant editorial, publishing and commercial teams and the support of such a dynamic group of non-exec directors. We thank Sir David and our other non-executive directors for their wisdom and guidance. They all remain great friends of Shortlist Media.”
ShortList Media is one of the fastest growing media companies in the UK with revenues significantly in excess of £20m per annum. Now in its seventh year the company has a portfolio spanning the two fremium weekly print brands ShortList and Stylist, the accompanying sites ShortList.com and Stylist.co.uk, daily emails Emerald Street and Mr Hyde, fashion biannual ShortList MODE and the new glossy fashion digital brand Never Underdressed. In April 2013 the company launched Stylist in France in a 50/50 JV with Groupe Marie Claire.
Mike Soutar comments: “DC Thomson have been one of our most important investors since launch and I am delighted to now be working with them in a true partnership to accelerate our development. They are a brilliant company with a great history. Our determination to become the best-in-class new media business in the UK remains undiminished and under our new structure we will continue to invest in breakthrough new launches. There are very exciting times ahead.”
Ellis Watson, CEO of DC Thomson Publishing, will become the new Executive Chairman of the Board. Ellis comments: “We are delighted to be renewing and strengthening our relationship with a company we have invested in since Day One. ShortList Media is an amazing success story with a great management team alongside Mike, including co-founder Tim Ewington, Managing Director Karl Marsden and Editorial Director Phil Hilton. They have assembled a top class team of Editors and Publishers and we are thrilled to be backing them to continue their growth.”
