Dods' £2 million deal to buy PoliticsHome
Lord Ashcroft
11 April 2012
Former Tory chairman Lord Ashcroft today sold PoliticsHome, the news website for Westminster's cogniscenti, for up to £2 million to parliamentary publisher Dods.
Dods paid nothing upfront but cash instalments will be due by 2014, depending on PoliticsHome hitting revenue targets.
The site launched three years ago and is edited by ex-Evening Standard journalist Paul Waugh.
It made a pre-tax loss of £500,000 on revenues of £100,000 last year.
Dods chief executive Gerry Murray said: "PoliticsHome is very widely read within the Houses of Parliament and is integral to our plans to develop an online engagement tool for MPs."
