- Technology-focused adviser and investor MXC Capital said it had made a £4.9m investment into Channel Islands Media Group, its newly-established venture with Bailiwick Investment.

The latter was a specialist fund administered and managed by Ravenscroft, with which MXC had an existing partnership.

MXC said the investment had enabled Channel Islands Media to complete the acquisition of The Guernsey Press Company.

The Guernsey Press was a key source of news and information across the Bailiwick of Guernsey, offering multi-media platforms such as the website and app "GY4U".

It was also involved in the production and distribution of the local newspaper and the wholesale and distribution of national newspapers and magazines.

MXC and Bailiwick Investment had each made an equal equity investment into Channel Islands Media to fund the acquisition.

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