The company, court filings say, had already been stripped of its staff and its business four years earlier. The new company, NW Media Publishing UK Ltd, a name almost indistinguishable from NW Publishing UK Ltd, was incorporated on 3 March 2022, with Pragad as its sole director and sole shareholder. The deposit deed expressly stated that the deposit belonged to NW UK and that NW UK was entitled to its return. NW Publishing UK was created in London as part of that same restructuring. On 24 April 2026, IBT Media served notice on NW Media Holdings that the 2018 sale agreement was never consummated.