Dawson Holdings, parent company of Dawson News, is restructuring following the loss of six major distribution contracts.

Three new subsidiary companies: Dawson Media Direct, Dawson Books and Dawson Marketing Services, will run independently of each other. CEO Peter Harris will step down on 30 June, to be replaced by FD Hugh Cawley.

"We have fallen victim to a restructuring of our industry's supply chain where we, as the smallest of three major players, have been squeezed out," said chairman Nigel Freer.