Johnston to sell Farm Week assets following competition concerns

Johnston Press has entered an agreement to sell off the assets of Farm Week following the Office of Fair Trading's announcement it has accepted undertakings given by the publisher to address competition concerns.

The concerns relate to the supply of farming titles in Northern Ireland following Johnston's acquisition of Local Press Ltd last November.

Johnston has entered into an agreement to sell the assets to the wholly owned subsidiary of Irish News, Farm Week Ltd for an undisclosed sum.

Gross assets include the value of publishing titles involved in the transaction are £3 million.

The 11,299-circulation weekly paid for title targets the agricultural community in Northern Ireland and was acquired by Johnston as part of Score Press in August of last year.

The agreement is subject to OFT approval of Farm Week Ltd as purchaser.

 

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