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Johnston Press rallies on pension deficit reduction

Wed, 03rd Feb 2016 09:31

(ShareCast News) - Johnston Press said the findings of the study it carried out to assess the liabilities of its pension plan are expected to reduce the present value of the media group's plan by around £50m.In addition, the company said that following a change to the scheme rules agreed by the trustees, it will now be entitled to participate in any surplus when the scheme closes.As a result, an additional liability of £3m at 3 January 2015 will not be required.Johnston said the adjustments, taken together, reduce the scheme deficit by some £53m from £90m.The group said full details of the study and assumptions used in calculating the changes to the scheme deficit will be presented in the preliminary results for the 52 weeks to 2 January on 22 March.Peel Hunt said: "This is almost the same as the market cap of JPR, and hence it is good news."At 0940 GMT, Johnston Press shares were up 13.6% to 41.48p.
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Johnston Press to sell Isle of Man titles for £4.25m

(ShareCast News) - Newspaper publisher Johnston Press has agreed to sell its titles on the Isle of Man to UK-based publisher Tindle Newspapers for £4.25m in cash. The disposal includes the Isle of Man Examiner, Isle of Man Courier, Manx Independent and www.iomtoday.co.im, and will be effected by the

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4 Jul 2016 10:53

Johnston Press Sells Isle Of Man Titles For GBP4.3 Million

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18 May 2016 08:31

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11 Apr 2016 08:02

Johnston Press completes purchase of i newspaper

(ShareCast News) - Regional newspaper publisher Johnston Press said it had completed its takeover of the i newspaper from Independent Print Ltd. The newspaper, launched as a digest of material from the Independent five years ago, was purchased for £24m. The Independent was shut down in March by own

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6 Apr 2016 08:38

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22 Mar 2016 10:39

Johnston Press signals further job cuts as profits rise

(ShareCast News) - Widespread cost cutting led to a 23% leap in pre-tax profit at Johnston Press, though the newspaper publisher warned more cutbacks could be on the way. The London-listed owner of a number of regional papers concentrated in Scotland and the North of England saw total revenue declin

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22 Mar 2016 10:39

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