No further newpaper disposal planned by Archant

Archant has said it has no plans to dispose of further newspapers following the completed sale of its Scottish division to Johnston Press this week.

The sale of the £11.2 million business, on a debt free basis, had been subject to clearance by the Office of Fair Trading.

The acquisition includes eight weekly newspapers; three paid-for newspapers in the Northeast of Scotland around Peterhead and Fraserburgh; and five free papers in central Scotland around Glasgow, Ayrshire, Lanarkshire and Paisley.

Archant issued a statement saying it is looking to develop its operation in England, while investing in its magazine division.

Chief executive John Fry (above) added: “It has been an unsettling time for the staff in our Scottish business but they have turned in excellent performance both prior to the transaction and during a period of uncertainty.

“This is a credit to their commitment. We will be sad to see them leave Archant where the Scottish business has been a rich and vibrant part of the ‘family’ but they will have more opportunity as part of Johnston Press, which is expanding its activities in Scotland.”

Revenues of £6.95 million were generated by the Scottish business in the year ended December 2006.

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