Deal Announcement: The Chelsea Magazine Company is sold to The Telegraph Media Group

Corbett Keeling is delighted to have advised Paul Dobson, the founder and owner of The Chelsea Magazine Company, on the sale of his business to the Telegraph Media Group.

Our role: The process began when Paul asked Corbett Keeling to advise on an approach he had received from an interested trade buyer. Corbett Keeling was engaged to provide preparatory advice on how best to approach these initial meetings and then to join these meetings with The Telegraph Media Group, acting as an experienced guide.

Once the structure of the transaction had been decided and the heads of terms were agreed, Corbett Keeling managed the sell-side response to a highly detailed information request from the Telegraph Media Group, assisting The Chelsea Magazine Company in providing the necessary information in a timely and organised manner.

We led negotiations on behalf of Paul and his family both with senior board members of the Telegraph Media Group and the Group’s financial due diligence providers on key items such as the net cash and working capital adjustment, the treatment of overseas operations and service agreements of key staff members continuing in the business. Once these areas had been agreed, we coordinated the lawyers in the preparation, agreement and signing of the legal documents.

About The Chelsea Magazine Company: Founded as a family business by Paul Dobson in 2007, The Chelsea Magazine Company is an award-winning print and online publisher of travel, lifestyle, education, and sports periodicals. The company enjoys a monthly readership in excess of 2.5 million across its 15 titles, spanning both the UK and North America.