Racing Post – recent filings

[wit]

some filings have shown up the past few days at Companies House on the RP companies.

– A. accounts to 27 Dec 2015, as signed-off 29 April 2016:

https://beta.companieshouse.gov.uk/company/03387163/filing-history

https://beta.companieshouse.gov.uk/company/09341840/filing-history

RP seems to be holding its own in transitioning to digital, as there continues the “decline in print circulation …..in line with the previous year at 5 per cent”, viz:

2015 – 39,713
2014 – 41,828
2013 – 45,061
2012 – 48,973
2011 – 53,111
2010 – 56,245
2009 – 61,059
2008 – 66,212

– B. the directors linked to FL Partners (which led the 2007 buyout from Trinity Mirror), seem all to have resigned on 15 September 2016 [second link above] – presumably in connection with the acquisition that day of the RP from FL Partners by Exponent Private Equity:

http://www.exponentpe.com/portfolio/default.aspx?investmentid=129

– C. possibly a similar corporate structure to the Stradbrook one (replacing the Stradbrook name with Fence) is proposed, judging by the directorship list for Alan Byrne:

https://beta.companieshouse.gov.uk/officers/EkRtfhBfFEIvnVgNbq4mrDDzLN8/appointments

some director appointments reflecting the new owners possibly soon to appear.

[Steeplechasing]

Thanks, wit. Interesting figures. If they count the Betting Shop Edition (the big basic broadsheet on the walls of shops), which I suspect they do, then things look as grim for them in print as for the rest of the news industry.

At around 8,000 shops I’d say they’d average 2 each – it’s probably a bit more as very few shops would take just 1 and the bigger units would need at least 3. Anyway, most will also take 1 standard copy; a conservative estimate of 6,000. That plus the 16,000 BSEs accounts for the majority of sales. Add in, say, another 2,000 for industry professionals – jocks, trainers, breeders etc. and it really does become a trade paper with relatively few sales to the man in the street.

Bookies have been experimenting with digital newspapers and it can only be a matter of time before they settle on something and bin the BSE for the final time.

And the RP won’t get by on digital – that short-lived bird is on the way off its perch for all news organisations. The subscription model is working for some, like the New York Times (even they posted a drop of, I think 16% in revenue in their latest accounts), but the Post just does not offer enough to generate a sustaining membership imo. They’ve sold the key parts – form and Spotlights – to bookies so punters can access those for free. Timeform offer a 1.2.3 summary in every horse race, again, free.

I don’t know what EPE paid, but I wish them well in their optimism.

[wit]

thanks, Joe.

penultimate footnote to the accounts states:

“Subsequent event
On 26 February 2016 Centurycomm Limited sold a trademark and a domain name for a cash consideration of £6 million net of VAT.”

any idea what that was ?

[homersimpson]

I wonder why it has taken them 5 months to file the accounts from the signing off of the audit report

[Steeplechasing]

any idea what that was ?

Afraid not…interesting, though.

[wit]

query seemingly resolved.

further look at the filings reveals that in March 2016 Centurycomm lodged a form MR05 advising of the release from its mortgaged assets of the trademarks THE SPORTING LIFE / SPORTING LIFE and some associated domains (including .com and .co.uk).

Trademark Registry says those trademarks now registered to Hestview Limited.

Latest filed accounts of Hestview say it is “a licensed bookmaker ….under the SkyBet name”.

[Author]

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