ePolitix & PoliticsHome Merge Ashcroft Losses Top £5 Million in 2 Years

The merger announced today between PoliticsHome and ePolitix had a certain inevitability to it as soon as the Lord Ashcroft controlled Dods plc, publishers of ePolitix and the House Magazine, swallowed the loss making website. PoliticsHome lost £500,000 last year, so some rationalisation of what are essentially websites with similar output was bound to happen. Even with the two sites combined Guido doubts they will get a readership of the size this blog reaches, in the press release announcing the consolidation the past highlights of ePolitix’s coverage were a story “revealing that a major section of a speech delivered in the House of Commons by further education minister John Hayes had been lifted from Wikipedia and an article in defence of David Laws. Hold the front page!

PoliticsHome has similar revenues to this blog with five times the head count, that unfortunately is not a commercially viable proposition. By Guido’s calculation Ashcroft has lost £3 million on his purchase of 25% of parent company Dods – he bought the shares for 13.5p and they are now trading at 5p – he paid circa £1.3 million for ConservativeHome and PoliticsHome which together with rolled up losses of over £500,000 means his foray into political publishing has cost him some £5 million in the last two years. A mere rounding error for the billionaire…




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Quote of the Day

Stephen Bush writing in the New Statesman‘s morning briefing…

“The terrifying truth is that the Opposition is too divided – within the parliamentary party, within the trades unions, within the Shadow Cabinet and even within the leader’s office – to be anything other than a veto player as far as Brexit goes, and the party’s whole gambit is really about trying to make that weakness look like a strength. Keir Starmer saying that Labour is “increasingly likely” to vote down the deal is simply a reflection of the fact that the one thing the Labour party will be able to agree on as far as Brexit goes is that Theresa May’s deal is no good.”

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