He has so often criticised the financial press and the way its hacks report on his movements, so it is perhaps not so surprising that Matthew Moulding, boss of the THG (LON:THG) empire, has moved quickly to take the CityAM business away from its administrators.
CityAm has been enduring significant pressures due to lockdowns and transport strikes, so much so that its circulation has dropped and the business became unviable.
Efforts to find a buyer over the last few weeks came to naught, with the result that Moulding has bought the London freesheet company by way of a ‘pre-pack administration process’.
Already Moulding has stated that he will not allow CityAM to be pulled over to the ‘dark side’ – does he mean criticism?
THG shares are holding steady at 103.5p this morning.
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