JPI Media acquires Johnston Press
Date Posted: Monday 19th November 2018
i News has reported that JPI Media has acquired Johnston Press:
"The newly formed group, made up of debt holders in Johnston Press, welcomed the move and said that business would continue as usual. All titles and staff were transferred to the new company. Johnston Press, the former owners of i, The Scotsman and Yorkshire Post, went into administration on Saturday with JPI Media taking over the business hours later as part of a pre-arranged deal. The sale means that the publishing group’s debts are reduced from £220m to £85m. The new owner, a group of investors that owned Johnston Press’s debt, will also invest £35m in the business at a time when newspapers face decline in advertising revenues because of disruption by tech giants."