by Sarah Lagan
Northcliffe has agreed it is to sell off the Aberdeen Journal and its associated titles to DC Thomson & Co Ltd for £132 million.
DMGT will merge Northcliffe with Associated Newspapers headed by Associated managing director Kevin Beattie. Northcliffe managing director Michael Pelosi will now report to Beattie.
DMGT has announced that in continuation of its Aim Higher cost reduction scheme it is now looking to make savings of £45 million a year which could result in sweeping redundancies across the company.
The move means Aberdeen Journals will have to pay £27 million into DMGT’s pension scheme when staff are transferred. Aberdeen Journals reported an operating profit of £8.1 million.
Editors and managers will be restructured into six regional areas.
DC Thomson’s existing titles include the Dundee Courier, the Sunday Post and the Dundee Evening Telegraph.