Johnston Press confirms 'advanced discussions' to sell Irish newspapers
Published 02/12/2013 | 13:38
Johnston Press has confirmed it is in “advanced discussions” to sell its Irish newspaper division.
The publisher, whose 14 Irish titles include the Leinster Leader, the Kilkenny People and the Donegal Democrat, said it could sell the newspapers for €8.5m – representing a massive loss for the group, which paid hundreds of millions to enter the Irish market in 2005.
The interested buyer is Mediaforce owner Malcolm Denmark. The group’s Northern Irish titles are reportedly not involved, according to weekend reports in the Sunday Times.
The development is the latest in a series of sweeping changes introduced by the debt-laden company, which last year reduced its overall headcount by more than 23pc to 4,350.