Publisher of The Scotsman and Yorkshire Post up for sale

Thu, 11 Oct 2018 | BUSINESS SALE



Following a strategic review assessing options for paying back £220 million in loans, which commenced in 2017, Johnston Press has decided to put itself up for sale.

The Edinburgh-based publisher reported a sharp decline in revenues, citing the change in Google and Facebook algorithms as the major factor. The repayments of the loans are due on 1 June 2019.

A statement from the company confirmed that no discussions were currently on the table with prospective buyers although some potential bidders have been identified, including names like activist shareholder Custos Group which already owns more than 20 per cent of Johnston Press.

The company notes total revenue fell by 10 per cent to £93 million for the first half in 2018. However, in the same time, the publisher came out of the red with interim pre-tax profits of £6.2 million against losses of £10.2 million a year earlier, thanks to a one-off accounting gain of £8.8 million.

The statement from the company further stated: "The company will continue to update all stakeholders on the formal sale process and other aspects of the strategic review as and when appropriate."

Potential offers have been invited to come forward and provide proposals to Rothschild to start phase one of the sales process. The confidentiality agreement with the company will form phase two of process.

Johnston Press first started involvement in printing in 1797 and owns and operates around 200 newspapers and websites around the UK as well as the Isle of Man. The newspaper from The Independent was added to its portfolio in 2016.

For more news stories about businesses for sale, click here. For all our business sale listings, click here.


Share this article



Latest Businesses for Sale

Community Lifestyle Magazine
Leeds, West Yorkshire, Yorkshire and the Humber, UK

Published monthly for over 13 years, this successful family owned community lifestyle magazine presents an exciting opportunity for expansion in a thriving metropolitan area. Offers invited.

Asking Price: £250,000
Turnover: £350,000

Design & Printing of Custom Labels
South East, UK

Offers labels, ribbons, printers, servicing and maintenance contracts to provide clients with a complete package. Offers invited.

Asking Price: Offers Invited
Turnover: £1,800,000

LEASEHOLD


Design & Distribution of Marketing Brochures
UK Wide

Specialises in the design and distribution of marketing brochures for the Tourist, Accommodation and Poster display sectors to mention a few. This is a confidential sale. Offers invited.

Asking Price: £310,000
Turnover: £451,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
17
 
May
 

Greater Manchester staffing firm acquires security services company | BUSINESS SALE

A security services business headquartered in Newton-le-Will...

 
16
 
May
 

Midlothian IT company enters administration with assets up for sale | ADMINISTRATION

An Edinburgh-based IT firm has collapsed into administration...

 
15
 
May
 

Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE

Challenge TRG Group, headquartered in Wigan, has successfull...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
13
 
Nov
 

Johnston Press to sell off more UK regional newspapers | BUSINESS SALE

Johnston Press, the owner of the Yorkshire Post and The Scot...

 
29
 
Mar
 

Johnston Press to sell off 59 local newspapers | DIVISION SALE

Johnston Press is planning to either sell off or significant...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources