What does THG see in old media after snapping up City AM?
In a move that surprised many observers, health and beauty retailer THG has snapped up business newspaper City AM, saving it from insolvency in an eleventh-hour deal. How does the paper fit in with the rest of THG’s business? Retail Week finds out
The new owner of City AM is Manchester-based health and beauty retailer THG, whose chief executive Matt Moulding is famously known not to be the biggest fan of many financial media publications following their criticisms of his business after its IPO.
The company, which owns brands such as Lookfantastic and MyProtein, is understood to have paid a “small seven-figure sum” for the newspaper, saving it and its 40 staff from a likely collapse.
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