Solstice Media adds The New Daily to stable of mastheads
Solstice Media – the parent company of InDaily – now has a national footprint following its acquisition of news website The New Daily.
Effective today, Industry Super Holdings has agreed to the sale of The New Daily to Solstice Media.
The acquisition means The New Daily will join Solstice Media’s stable of independent mastheads, including InDaily, SALIFE, CityMag, The Weekend Edition, InReview and Premium Property.
Adelaide-based Solstice Media was previously the contract publisher of The New Daily, and was chosen as the acquirer after a competitive process.
In a joint statement, Industry Super Holdings and Solstice Media said the decision to sell The New Daily was “made in light of recent changes in the media sector and being in the best interests for The New Daily to be owned by, and integrated with, an established news publisher”.
The New Daily is an independent publisher of national news.
“The New Daily has continued to provide value for industry super funds throughout Industry Super Holdings’ ownership and has been an important and cost-effective avenue to communicate to members,” the joint statement reads.
“A process is now underway for a smooth transition from Industry Super Holdings and Solstice Media and readers will continue to receive the publication it has been enjoying for the past 11 years.”
Solstice Media managing director Paul Hamra said the independent publication would give the company a national footprint and would complement the stable of state-based news and lifestyle websites.
Solstice Media managing director Paul Hamra.
Stay informed, daily
“The New Daily has a subscriber base of 500,000 and a website audience of 1.5 million monthly unique users. We have great first-party data on our audience – so we will be building on this, integrated with our other sites, and presenting a bigger, nationally engaged audience to the market,” Hamra said.
He added that The New Daily will continue to write breaking news, politics, business arts and culture journalism under Solstice Media’s ownership.
“As a sector, it could not be a more important time for independent media,” Hamra said.
“Independent, trusted journalism and information is vital.
“Solstice Media will continue to search for revenue and funding models that support this aim. I am confident that they are out there. There are a lot of people who support independent media.”
