Smiths News plc (LSE:SNWS) (SNWS) has agreed a new long-term contract with Guardian News and Media for all of the group's current UK distribution territories to 2031.
The company said the deal means it has "formally secured long-term contracts with over 96% of its newspaper and magazine revenues through to 2029."
"I am delighted that we have agreed a new contract with The Guardian, marking the last of the material newspaper and magazine contracts due for renewal in the 2024-2026 contract round," Jon Bunting, Chief Executive Officer, said.
"The extent of our long term contracts with publishers continues to demonstrate the pivotal role Smiths News plays in the early morning supply chain."
The recap
• Contract with Guardian News and Media covers all current UK distribution territories to 2031.
• Smiths News has secured long-term agreements covering over 96% of newspaper and magazine revenues through to 2029.
• The Guardian deal is the last of the material newspaper and magazine contracts due for renewal in the 2024-2026 contract round.
