What Happened to Daily Mail and General Trust (DMGT)?

Daily Mail and General Trust (DMGT) has a rich history dating back to the founding of the Daily Mail newspaper in 1896 by brothers Alfred and Harold Harmsworth. The company was incorporated in 1922 and first listed on the London Stock Exchange in 1932, growing into a diverse multinational media conglomerate. For decades, it expanded its interests across consumer media, business information, and risk management services. Jonathan Harmsworth, the 4th Viscount Rothermere, became chairman in 1998, continuing the family's long-standing control.

A significant turning point for DMGT occurred in the early 2020s. In March 2021, DMGT sold its EdTech business, Hobsons, for approximately US$410 million, followed by the sale of its insurance risk business, RMS, for around £1,425 million in September 2021. These divestments paved the way for Lord Rothermere's bid to take the company private. In December 2021, Rothermere Continuation Limited (RCL), the holding company of Lord Rothermere, secured shareholder approval to acquire the remaining shares it did not already own. The deal, valuing the newspaper business at £885 million and the total takeover at around £2.4 billion (including a stake in online car retailer Cazoo), led to DMGT's delisting from the London Stock Exchange on January 10, 2022.

The privatization was driven by a desire for greater strategic flexibility and to escape the short-term pressures of public markets, allowing the Harmsworth family to pursue long-term investments and restructuring. Under private ownership, DMGT has continued to refine its portfolio. In March 2023, Tim Collier was appointed CEO of DMGT, with Lord Rothermere focusing on broader strategic oversight. The company also showed interest in expanding its news portfolio, registering a bid for The Telegraph in August 2023 and later announcing a £500 million deal with RedBird IMI in November 2025. However, this bid was ultimately unsuccessful, with Axel Springer acquiring The Telegraph in March 2026.

DMGT's strategic focus has increasingly shifted towards its B2B information services and events divisions, which are projected to account for a significant portion of its revenue and EBITDA. In April 2026, DMGT sold its US property data business, Trepp, to Fitch Group for $1 billion, further streamlining its assets and providing capital for reinvestment in growth areas like events, data, and digital media. The company also underwent an internal reorganization in October 2025, establishing Rothermere Continuation Holdings Limited (RCHL) as a new parent company to align its structure with international activities.

As of August 2026, DMGT remains a privately held, diversified media and information company. Its consumer media division, now renamed 'Daily Mail' following a June 2026 shake-up, includes the Daily Mail, Mail on Sunday, and MailOnline, while Metro, The i Paper, and New Scientist are part of 'Harmsworth Media'. The company is actively pursuing digital subscription growth, aiming for one million digital subscribers by October 2028, despite facing challenges like declining digital advertising revenue due to changes in search engine algorithms. Its B2B events and exhibitions business, dmg events, headquartered in the UAE, continues to be a strong performer.