Reach PLC

Reach will cut 220 editorial roles, close three online-only brands (KentLive, AberdeenLive, GalwayBeo) and create about 60 new editorial positions focused on driving digital revenue such as subscriptions and long-form video. The publisher cited a “mammoth shift” in audience behaviour, including a 46% year-on-year drop in Google referrals due to AI features that reduce click-throughs. Digital revenues fell nearly 1% to £128.9m and the group has 50,000 paid digital subscribers with a target of 75,000 by year-end; the company’s share price has fallen about 90% over five years. » More on theguardian.com

Reach has bought 450,000 ordinary shares on the London Stock Exchange at 0.454254 pence each for its employee trust to offset dilution from employee share schemes. After the purchase the trust holds 3,136,645 ordinary shares, representing 0.97% of the issued share capital of 322,085,269 shares (including 3,748,968 treasury shares). The shares are to be used to satisfy employee share options and restricted shares, including for senior executives; further purchases are being considered. » More on de.investing.com

Reach has acquired 142,493 ordinary shares on the London Stock Exchange at a price of 0.549807 pence per share for its Employee Benefit Trust. The trust therefore holds 2,738,602 ordinary shares, representing 0.85% of the issued share capital. The purchase is intended to satisfy claims arising from share options and the release of restricted shares and to manage dilution from share plans; further purchases are possible. » More on de.investing.com