Gleaner buys UK paper - Oliver Clarke calls 'Voice' deal biggest single
investment
THE
GLEANER Company Ltd., through its U.K. subsidiary, has purchased full
ownership of The Voice, Britain's best-known and largest ethnic newspaper.
The sales agreement
was signed yesterday at the offices of The Voice in Brixton, London.
"This is
a wonderful and positive development for The Gleaner and for The
Voice," said Oliver Clarke, the company's chairman and managing
director.
"We have
been looking consistently for ways to expand our presence overseas
and the acquisition of The Voice and its Young Voices magazine gives
us a golden opportunity to better serve our readers of the diaspora,"
he said.
The Voice, which
is published weekly and targets the Caribbean and African markets,
will be the largest of The Gleaner's nine non-Jamaican publications.
In England, the two Voice publications are joined by The Weekly
Gleaner UK and Extra, a free newspaper. In North America, the Gleaner
offices in New York and Toronto publish The Weekly Gleaner, The
Weekly Star as well as two editions of Extra. Black Pages, a directory
of black businesses in Canada, is produced annually.
Mr. Clarke said
that the acquisition of The Voice represented "the biggest
single investment ever made by The Gleaner Company Ltd. We are excited
by the challenge of finding new ways to allow The Voice and our
other publications to build the influence of the Caribbean community
throughout North America and the United Kingdom."
He added that
"our editorial and management teams will be focused on ensuring
the growth and commercial success of the new publications."
Mr. Clarke said that "U.K. subsidiary to refinance The Voice's
operations."
Present at yesterday's
signing of the share purchase agreement were the administrators
of the estate of the late Val McCalla, the paper's founder
Mrs. Linda McCalla and Michael McCalla; while representing The Gleaner
were the Manager of Overseas Publications John Hudson; George Ruddock,
managing director of the U.K. operations, and Norman Marshall, circulation
and operations manager of The Gleaner Company in Jamaica.
The Gleaner's
delegation was assisted by Colin Reid of Leroy Reid and Company,
and a team led by Bruce Levy of Myers Fletcher and Gordon, London.
After the signing,
Mrs. McCalla expressed her delight with the sale to the Gleaner
Company and spoke of her confidence that The Gleaner would continue
to maintain the high editorial standards of The Voice.
Mr. Hudson said
"The Gleaner is pleased to have concluded this agreement. It
represents a substantial investment for us and we will ensure that
the tradition of the paper continues as the 'voice' for the ethnic
population in Britain."
The Voice was
started more than 20 years ago by the late Val McCalla, a Jamaican,
and a group of associates and has served as the strongest advocate
for the Caribbean and wider black and mixed-race community in the
United Kingdom.
Published
Wednesday, May 19, 2004
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