Menu
01/06/2012
Lewis Sells MoneySavingExpert.com For £87m
In a deal announced this morning on the stock market, MoneySavingExpert.com (MSE) will join the MoneySupermarket.com group.
MSE will continue to operate as it does now, but with improved technology, so more people can gain from its MoneySaving techniques.
The site is being purchased for £60m upfront (a mix of cash and shares) with £27m more conditional on meeting non-financial performance targets over the next three years.
The Editorial Code has been agreed as part of the sale contract to ensure MSE follows its founding principles to provide the best information to help consumers, based on journalistic research. This editorial line will stay independent of any commercial objectives. See the full Editorial Code in Martin's editorial comment.
Founder Martin Lewis will donate £10 million to charity from the deal – Citizens Advice will get £1 million, with the remaining £9 million going to a Charities Aid Foundation trust, which means it’s locked away and can only be donated to official charities.
Mr Lewis said: "This is great news for MoneySavingExpert.com and its users, ensuring, with or without me, the site will be around for many years to come, maintaining our ethos of 'cutting your costs and fighting your corner.
"MoneySavingExpert.com has become part of people's daily lives, far bigger than the man who founded it, and now is the right time for it to stand on its own two feet.
"I chose MoneySupermarket to work with as I know and trust them. They understand the site, as they've shown by agreeing the Editorial Code, which ensures our content can proudly remain editorially independent and free from commercial considerations.
"I'm chomping at the bit to get going, and come up with new ways to help people save cash and continue campaigning on issues such as PPI and getting financial education on the curriculum. In keeping with the site's aims, when the deal completes, £10 million will go to charity, including £1 million to Citizens Advice, which is facing terrible funding cuts."
(CD)
MSE will continue to operate as it does now, but with improved technology, so more people can gain from its MoneySaving techniques.
The site is being purchased for £60m upfront (a mix of cash and shares) with £27m more conditional on meeting non-financial performance targets over the next three years.
The Editorial Code has been agreed as part of the sale contract to ensure MSE follows its founding principles to provide the best information to help consumers, based on journalistic research. This editorial line will stay independent of any commercial objectives. See the full Editorial Code in Martin's editorial comment.
Founder Martin Lewis will donate £10 million to charity from the deal – Citizens Advice will get £1 million, with the remaining £9 million going to a Charities Aid Foundation trust, which means it’s locked away and can only be donated to official charities.
Mr Lewis said: "This is great news for MoneySavingExpert.com and its users, ensuring, with or without me, the site will be around for many years to come, maintaining our ethos of 'cutting your costs and fighting your corner.
"MoneySavingExpert.com has become part of people's daily lives, far bigger than the man who founded it, and now is the right time for it to stand on its own two feet.
"I chose MoneySupermarket to work with as I know and trust them. They understand the site, as they've shown by agreeing the Editorial Code, which ensures our content can proudly remain editorially independent and free from commercial considerations.
"I'm chomping at the bit to get going, and come up with new ways to help people save cash and continue campaigning on issues such as PPI and getting financial education on the curriculum. In keeping with the site's aims, when the deal completes, £10 million will go to charity, including £1 million to Citizens Advice, which is facing terrible funding cuts."
(CD)
Related UK National News Stories
Click here for the latest headlines.
26 August 2011
Vitamin A For Children Could Save 600,000 Lives
Children in low and middle income countries should be given vitamin A supplements to prevent death and illness, a study published on bmj.com today has concluded.
Vitamin A For Children Could Save 600,000 Lives
Children in low and middle income countries should be given vitamin A supplements to prevent death and illness, a study published on bmj.com today has concluded.
19 October 2011
Millions Affected By Tax Blunder
Millions of UK tax payers will be told they have paid the wrong amount of tax, with some being handed a £400 rebate while others will be hit by £600 in back payments.
Millions Affected By Tax Blunder
Millions of UK tax payers will be told they have paid the wrong amount of tax, with some being handed a £400 rebate while others will be hit by £600 in back payments.
03 July 2013
Trinity Mirror Expand Digital Editorial Department
25 new digital editorial staff are to be hired by the Trinity Mirror group. The recruitment will double the online department and increasing its output to 2,000 stories a week.
Trinity Mirror Expand Digital Editorial Department
25 new digital editorial staff are to be hired by the Trinity Mirror group. The recruitment will double the online department and increasing its output to 2,000 stories a week.
24 July 2007
Media centres launched to help homeless youths
A network of ten media training centres, which aim to give hundreds of young homeless people the skills to take up jobs in the media and music industries, have been launched by Communities Minister Iain Wright.
Media centres launched to help homeless youths
A network of ten media training centres, which aim to give hundreds of young homeless people the skills to take up jobs in the media and music industries, have been launched by Communities Minister Iain Wright.
24 January 2006
Two million people 'risking their sight'
More than two million people in the UK are at risk of needlessly losing their sight through treatable eye conditions, according to a new report. The Royal National Institute for the Blind (RNIB) said that 1.9 million people with diabetes and 250,000 people with early-stage glaucoma are unknowingly risking blindness.
Two million people 'risking their sight'
More than two million people in the UK are at risk of needlessly losing their sight through treatable eye conditions, according to a new report. The Royal National Institute for the Blind (RNIB) said that 1.9 million people with diabetes and 250,000 people with early-stage glaucoma are unknowingly risking blindness.
-
Northern Ireland WeatherToday:Dry and bright start but scattered showers soon developing in the west. These showers will become heavy and possibly thundery by afternoon, gradually extending eastwards later. Maximum temperature 22 °C.Tonight:Cloudy with any lingering showers soon dying out. Then a few clearer spells possible before low cloud spreads in through the early hours, with coastal fog in places. Minimum temperature 9 °C.
