Sullivan scores for Sport Media

THE publisher of the Daily Sport and Sunday Sport newspapers has revealed a hike in sales after the return of their founder David Sullivan.

Sport Media, which brought back Mr Sullivan who stumped up £1.68m to help the struggling firm, said following the refinance, circulation has returned to levels last seen in November 2008 of 75,000 copies a day.

It added that despite an increase in the cover price, its weekend titles had also seen a small uplift in sales, while advertising revenues are expected to benefit from the increase in circulation over the longer term.

The group said: “The initiatives of our honorary publisher, David Sullivan, have made a positive impact, and we are grateful for his continued oversight.”

In March, Sport Media announced it was axing around 20 jobs from its 100-strong workforce in Manchester which it says will generate around £700,000 in cost savings a year.

The group is pursuing its strategy of reducing its £12m debt pile and said it will not resume dividend payments until the debts have been significantly reduced.
Sport Media also said that its non- executive chairman David Bailey will retire later this year, while financial director Andy Fletcher is also stepping down from the board.

The group will announce its full year results in the autumn.