Smiths News extends deal with IPC

Smiths News, Britain's biggest distributor of magazines and newspapers, has signed a five-year deal with media giant IPC, worth £154m a year in revenues until 2019.

Smiths is extending its distribution contract with IPC Media as well as its circulation and sales arm Marketforce. Its rival John Menzies also saw its contract with Marketforce, worth about £122m a year, renewed for five years.