PA Media and dpa raise strategic investment in Alliance News above 20%
LONDON, July 31, 2024 /PRNewswire/ -- Two of Europe's leading media organisations have increased their holdings in Alliance News, a London-based global provider of real-time financial news.
PA Media Group, the parent company of the Press Association, the national news agency for the UK and Ireland, and German news agency, dpa (Deutsche Presse-Agentur), have increased their combined stake to just over 21% (10.68% each) from just under 8% (3.86% each).
Both PA and dpa now will take seats on an expanded Alliance News board.
Alliance News provides four distinct news services for financial professionals and retail investors. The Global 500 service reports on the 500 largest and most followed listed companies in the world, while the Italian, South Africa and UK services cover every company publicly traded in those three local markets, including small-cap stocks and investment trusts. Economic and market reporting of all major economies complement the detailed equities news coverage.
Alliance News was formed in 2013 and has grown steadily since, with its global customer and coverage footprint continuing to expand.
Tom Waite, founder, editor & chief executive of Alliance News, said:
"Alliance News celebrated its 10th anniversary just over a year ago, which was a significant milestone for us. This new investment is another important moment. It is great to see dpa and PA stepping up their ownership of the company and involvement in our future direction at this crucial stage in our development. We are increasingly working with dpa and its other portfolio companies, including dpa-AFX and AWP, on expanding our global news coverage. With PA, we are contributing news to the PA Mediapoint platform for PR and communications professionals, and recently we started to partner with PA's social media specialist agency Hydrogen on custom-publishing projects."
Emily Shelley, Chief Executive of PA Media Group, said:
"The news agenda will continue to be dominated by business and financial developments as companies in the UK, Europe and elsewhere navigate this period of political and economic change. Alliance News is well positioned to provide the coverage that decision makers rely on and shares PA's values of timely and accurate journalism."
Peter Kropsch, Chief Executive Officer of dpa, said:
"We have been shareholders in Alliance News since 2017 and are very satisfied. The company has developed excellently since then. It harmonizes perfectly with the portfolio of our financial news agency operations in Germany and Switzerland. We look forward to supporting Alliance News and its management team even more in the development of new markets and products through our expanded involvement."
About Alliance News
Alliance News was founded in 2013, and its UK service quickly became known for its independent, fast and accurate coverage of every company listed in London, combined with the most relevant global economic and political news for investors. In 2017, Alliance News launched its Italian Service, providing the same universal news coverage in Italian language of all Milan-listed companies. This was followed by the South Africa Service in 2018 and the Global 500 service in 2019.
Alliance News is available via a wide range of leading market-data vendors, content-aggregation platforms, and investor-information websites in the US, UK, Italy and elsewhere.
For more information about Alliance News, visit www.alliancenews.com.
About PA Media Group
PA Media Group comprises a diverse portfolio of specialist media companies, spanning news & information, technology and communications services.
Its flagship brand, PA Media, is the UK and Ireland's national news agency. Alongside PA Media, the Group is also the parent company of Alamy, a stock imagery business; Globelynx, a broadcast technology company; Sticky, a digital marketing agency; Hydrogen, a social media agency; StreamAMG, a video streaming business; PA TV Metadata, PA Mediapoint, PA Media Academy and PA Betting Services and iRace, specialist providers of data, content and related services to the betting sector. PA Media Group also owns stakes in the financial news provider, Alliance News, and automotive content business Baize Group.
PA Media Group has 20 shareholders, who are mainly UK news and media businesses. The largest shareholders include DMGT plc, Informa plc, News UK plc and Reach plc.
About dpa
The German Press Agency dpa is owned by more than 170 media companies. It is a trusted, accurate and independent provider of news with the digital and multimedia content to power the media at home and abroad. Our customers benefit from the extensive global network of correspondents and editors maintained by Germany's leading news wire. News gathering is completely free of outside influence which in turn guarantees that coverage lives up to the strict requirements of the dpa charter: This document lays down that reporting must be free of bias and unfettered by political, economic or governmental ideologies. Print media, radio stations, online and mobile communication providers in more than 100 countries rely on this journalistic excellence around-the-clock. Among dpa clients are parliaments, governmental and non-governmental organisations as well as businesses and public relations agencies. They all derive news content from the wide range of products and services provided by the dpa group of companies. www.dpa.com.
SOURCE Alliance News
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