Monday 14 November 2016 7:50 am

Johnston Press confirms late-stage discussions to sell East Anglia papers


I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

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Newspaper publisher Johnston Press has confirmed it is in late-stage discussions to sell a stable of newspapers in East Anglia to a rival group.

Johnston Press, which bought the i newspaper earlier this year and also publishes the Scotsman and Yorkshire Post, is in the process of selling off some of its non-core titles.

Read more: Newspaper publisher Johnston Press revenues continue to fall

In July, the publisher announced it had sold three Isle of Man titles to Tindle Newspapers for £4.25m.

The Sunday Times reported over the weekend that Johnston was in talks to sell a stable of newspapers in East Anglia, thought to include the Newmarket Journal and Suffolk Free Press, to Iliffe Media.

The publisher said today: “This disposal process is ongoing and a further announcement will be made when appropriate.

Read more: Struggling newspaper group Johnston Press set for activist investor meeting

“Shareholders are advised that there can be no certainty that the disposal process will lead to any definitive agreements concerning any possible disposals or as to the timing or terms of any such agreements.”

Last week, Johnston reported that its revenue was continuing to fall, though the pace slowed in October to a 3.2 per cent decline.

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