Daily Mail owner buys New Scientist magazine in £70m deal

The 65-year-old title is forecast to make £7m in profits this year

The publisher of the Daily Mail has acquired the renowned weekly science and technology magazine New Scientist in a £70m cash deal – the latest round of consolidation in the publishing sector.

The 65-year old title, which is owned by a group of individual investors led by Sir Bernard Gray, is based in London, with offices in the US and Australia. New Scientist is forecast to make £7m in profits and more than £20m in revenues this year.