Johnston Press is trying to dispose of its Irish newspapers. According to the Sunday Times in Ireland, the company "is in advanced talks" to sell its 12 Irish titles to the British advertising executive Malcolm Denmark.The indebted publisher paid about £115m in 2005 to acquire the stable of regional and local papers that includes the Limerick Leader, Donegal Democrat and Kilkenny People.But the story suggests Johnston would be prepared to accept just £10m from Denmark, who has set up a new company, Iconic Newspapers, to effect the takeover.His main firm, Mediaforce, is an agency that places advertisements and inserts in newspapers and magazines in Ireland and Britain. That almost certainly means his deal would require approval from Ireland's competition watchdog.Denmark would have to convince the authority (and rival publishers) that there would not be a conflict of interest between the advertising and publishing divisions.Johnston has slimmed down its Irish business in recent years in the face of ever-declining profits. Last year it closed the Offaly Express in Tullamore, having previously sold off the Tallaght Echo. The sell-off should be seen in the context of the strategy being pursued by Johnston's chief executive, Ashley Highfield, who is trying to ease the burden of the company's £300m debt pile. However, it appears that Johnston's newspapers in Northern Ireland, such as the Derry Journal and the Ballymena Times, are not included in the sale talks with Denmark.... Continue reading at 'The Guardian'
[ The Guardian | 2013-12-02 00:00:00 UTC ]
But Simon Fox might like to reconsider whether that New Day title is right...So two newspaper publishing chiefs who have made much of a pursuing a digital future are showing a renewed, and touching, faith in print.Trinity Mirror’s Simon Fox is overseeing the launch of a new daily while Johnston... Continue reading at The Guardian
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Ashley Highfield says the ‘economics’ of digital news require the publisher to rely more on a ‘fluid’ selection of contributorsJohnston Press chief executive Ashley Highfield has warned that the number of full-time journalists working across the group’s local titles will fall from its current... Continue reading at The Guardian
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Johnston Press employees in Ireland have received notices informing them that the terms of their employment contracts will be switched to a new company, Formpress Publishing Ltd, later this week.They believe it to be a precursor to the publisher's newspapers being sold to the company, which was... Continue reading at The Guardian
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Boston Globe executive to take new post of chief digital and product officer at Scotsman and Yorkshire Post publisherJohnston Press has hired Jeff Moriarty, one of the Boston Globe's top digital executives, in the newly-created role of chief digital and product officer.Moriarty, who joins the... Continue reading at The Guardian
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Johnston Press is trying to dispose of its Irish newspapers. According to the Sunday Times in Ireland, the company "is in advanced talks" to sell its 12 Irish titles to the British advertising executive Malcolm Denmark.The indebted publisher paid about £115m in 2005 to acquire the stable of... Continue reading at The Guardian
[ The Guardian | 2013-12-02 00:00:00 UTC ]
More news stories like this