Johnston Press to sell off 59 local newspapers

Tue, 29 Mar 2016 | DIVISION SALE

Johnston Press is planning to either sell off or significantly reduce the running costs of a number of its ‘non-core’ local newspapers throughout 2016.

The move comes as the distressed newspaper publisher looks to cut its levels of debt and return to paying dividends. It also follows a year of heavy cost cutting and the selling of 18 titles in its roster.

In Johnston Press’s recent full year results, a statement read: “We have identified a number of newsbrands that are now considered non-core and as such will be either divested or run with less costs, reflecting the medium-term outlook for the identified assets that fall into this category.

"The company will run a formal process, with advisers, to market defined asset groups for sale during 2016. Interest by third parties, enquiring about assets, has been encouraging so far.”

The newspaper group acquired Evgeny Lebedev’s i newspaper for around £25 million earlier this year. However, Johnston Press simultaneously announced a plan to cut 3,000 jobs across its regional brands.

Johnston Press is the fourth largest news publisher in the UK. The titles under threat include the Weekend Herald, Scotland on Sunday, West Sussex Gazette and South Yorkshire Times. A total of 59 local newspapers are currently under review.

Earlier this month, four Labour MPs in Nottinghamshire wrote to Johnston Press chief executive Ashley Highfield to seek assurances “that these newspapers will continue to have an important role to play in the company going forward because we believe that they are key assets to our local communities”.

Gloria De Piero, one of the aforementioned MPs, added: “We urge the Secretary of State for Culture, Media and Sport to ensure that staffing levels at the newspapers are maintained to a level that does not cause unacceptable stress to the employees who work there and which enabled the newspapers to continue their good work informing local people, championing local causes and scrutinising local democracy.”

Head to the resources section for more information about Buying a Business or see the latest businesses for sale.


Share this article



Latest Businesses for Sale

Authentic Sardinian Restaurant
Stoke Newington, North London, London, South East, UK

Il Bacio Express, an authentic Sardinian restaurant which was established by our client in 2000. Our client is now looking forward to moving back to Sardinia. Il Bacio Express opened in 2000 as a pizza and pasta café. Since then the business has grow...

Asking Price: £345,000
Turnover: £464,228

LEASEHOLD


Nationwide Loss Adjuster
UK Wide

Specialises in providing complete, responsive loss adjusting services for property, motor, goods in transit and liability insurance claims. The shareholders are offering the business for sale due to their retirement plans. Offers invited.

Asking Price: Offers Invited
Turnover: £327,000

FREEHOLD


Gas Leakage Repair Solutions & Pipeline Corrosion Protection
UK Wide

Gas leakage repair solutions and pipeline corrosion protection to the utilities industry. Strong second-tier management team in place able to run the day-to-day operations of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £2,800,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Jan
 

Jewellery retailer enters administration | ADMINISTRATION

A Nottingham-based jewellery and watches company has fallen ...

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

Free guide: 10 Biggest Buyer Mistakes

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

Email


Related News

 
11
 
Oct
 

Publisher of The Scotsman and Yorkshire Post up for sale | BUSINESS SALE

Following a strategic review assessing options for paying ba...

 
13
 
Nov
 

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

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

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