Daily Mail owner buys UK daily i newspaper for £50m

The owner of the Daily Mail has bought the i for £49.6m, promising to maintain the publication's "Politically neutral approach" as consolidation in the British newspaper market gathers pace. The purchase from JPI Media will add a title with a weekday newspaper circulation of roughly 170,000 to Daily Mail and General Trust's stable, which also includes the Mail on Sunday, Mail Online and Metro. The sale of the i - for more than double its price tag in 2016 - is part of a broader shake-up under way in the British newspaper industry, which has been hit by falling print advertising revenues. DMGT will have a near 30 per cent share of the national newspaper market after the deal. The deal, which will grow DMGT's share of the national newspaper market, is expected to be reviewed by the UK's competition authority.

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