PCP signs publishing deal with ICAEW

An arm of the publishing house that owns New Statesman and Press Gazette has signed long-term deal to publish the magazine and newsletter portfolio of the Institute of Chartered Accountants in England and Wales (ICAEW), it was announced yesterday.

The multimillion-pound deal will see Progressive Customer Publishing (PCP), part of the Progressive group, take over ICAEW's eight titles both in print and online from February. PCP will also launch a new free monthly title for the institute, whose products reach more than 150,000 members and student accountants around the world. The company is in the process of recruiting a "significant team" to fulfil the contract, which involves publishing 84 magazine editions a year.

ICAEW executive director Robin Fieth said PCP offered "a unique and innovative solution to develop our publications in a way that will help drive forward our brand". PCP managing director Dan Davey, who joined the company last year from Cedar Communications, added that the size of the deal at such an early stage for the company represented an "unparalled opportunity".