Institutional Theory – The Daily Mail (Notes)

The group traces its origins to the launch in 1896 of the mid-market national newspaper the Daily Mail by Harold Harmsworth, 1st Viscount Rothermere, and his elder brother, Alfred Harmsworth, 1st Viscount Northcliffe. It was incorporated in 1922 and its shares were first listed on the London Stock Exchange in 1932. 

published in London in a tabloid format. Founded in 1896, it is the United Kingdom’s highest-circulated daily newspaper.

Who owns the Daily Mail?

  • Viscount Rothermere

DMGT – Daily Mail and General Trust plc, a British media conglomerate, owning the Daily Mail as well as Mail on Sunday and Metro. The UK’s national newspapers are owned predominantly by 6 major media groups. Three of these corporations own 71% of national newspaper circulation, those three groups being ‘News Crop’, ‘DMG Media’ and ‘Trinity Mirror’.

Holding Company – A holding company is a company that owns the outstanding stock of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies to form a corporate group. 

Intermediate Holding – An intermediate holding is a firm that is both a holding company of another entity and a subsidiary of a larger corporation. An intermediate holding firm might be exempted from publishing financial records as a holding company of the smaller group. It gives the holding company owner a controlling interest in another without having to invest much. When the parent company purchases 51% or more of the subsidiary, it automatically gains control of the acquired firm. By not purchasing 100% of each subsidiary, a small business owner gains control of multiple entities using a very small investment.

In relation to DMG media – DMG media is an intermediate holding company for Associated Newspapers, Northcliffe Media, Harmsworth Printing and other subsidiaries of Daily Mail and General Trust. 

Financial –

  •  The company manages a multinational portfolio of companies, with total revenues of almost £2 billion. 
  • The company operates in over forty countries through its subsidiaries (An example of one would be DMG media)
  • Daily Mail and General Trust (DMGT) reported adjusted operating profit (before tax) of £63m for the nine months to 30 June, down from £112m in 2019. DMGT also reported revenue of £934m, down an underlying seven per cent for the period.
  • Revenue is the total amount of income generated by the sale of goods or services related to the company’s primary operations. … Profit is the amount of income that remains after accounting for all expenses, debts, additional income streams, and operating costs
  • The owner of the Daily Mail, the i and Metro said that print advertising revenues for its portfolio of titles plunged by 70% in April and May as the coronavirus lockdown hammered the newspaper industry.
  • In April, DMGT said circulation revenues fell by 17%, with total advertising revenue down 46% – with print ads down 69% and digital advertising falling 16%.

Political Stance –

The Mail has traditionally been a supporter of the Conservatives and has endorsed this party in all recent general elections.

Lord Rothermere was a friend of Benito Mussolini and Adolf Hitler, and directed the Mail’s editorial stance towards them in the early 1930s. Rothermere’s 1933 leader “Youth Triumphant” praised the new Nazi regime’s accomplishments, and was subsequently used as propaganda by them

Audience –

A survey in 2014 found the average age of its readers was 58, and it had the lowest demographic for 15- to 44-year-olds among the major British dailies. Uniquely for a British daily newspaper, it has a majority female readership, with women making up 52–55% of its readers

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