Formed by Henry Spence Horne to develop the Newspaper business in Great Britain and Europe. He was also a director the Carmelite Trust and other companies. He was declared bankrupt at the end of 1929 due to the loss on his shareholdings following the Hatry crash in September 1929. The company was later acquired by Iliffe Newspapers.
Capital £3,150,000 in 12,000,000 Ordinary shares of 5/- and 3,000,000 Deferred shares of 1/-.