Tuesday, 30 March 2010
Archant's stake in Kent on Sunday revealed
Archant has invested more than £500,000 over the past two years in KoS Media, publisher of Kent on Sunday, HoldtheFrontPage reveals today.
KoS was set up eight years ago by former Adscene, Kent Regional Newspapers and Trinity Mirror Southern executive Paul Stannard.
HTFP reports: "The company, based in Smeeth, near Ashford, has long been rumoured to have had links with Archant, but Archant has previously refused to comment publicly on this. However the financial relationship between the two is referenced in Archant's annual report published yesterday, which describes KoS Media as an "associated company."
The report states that during 2009, Archant made a further £300,000 investment in KoS Media (Holdings) Ltd, on top of a £215,000 investment in 2008.
It added: "Archant's share of the associate's losses grew from £158,000 to £196,000 owing to the shortfall in advertising revenues, with the second half of the year an improvement on the first."