Johnston Press, which owns papers including the i, The Scotsman and The Yorkshire Post, has been saved at the eleventh hour. Newly-formed company JPIMedia announced it had bought Johnston Press on Saturday after the publisher put itself into administration. The publisher had been looking to refinance £220m of debt due to be repaid in June next year.
Johnston Press, which owns titles include the i newspaper, the Scotsman and the Yorkshire Post, has put itself up for sale. The beleaguered publisher, which owns almost 200 regional newspapers, had become bogged down in negotiations with bondholders over a £220m refinancing due in June that it cannot afford.
Shares in British regional newspaper group Johnston Press fell 20 per cent on Tuesday after disappointing advertising revenues triggered a profit warning.The group, which owns more than 200 newspapers including The Scotsman, said there had been a “slowdown in general trading” in the three months to June and “specific weakness” around May’s general election. For […]
