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Johnston Press to sell titles as digital focus intensifies

Tue, 19th Jan 2016 14:48

(ShareCast News) - As well as confirming profits in line with forecasts, local newspaper publisher Johnston Press said it may sell several of its non-core titles in order to focus on digital growth.The company, whose titles range from dailies such as the Scotsman and the Yorkshire Post to around 190 weeklies like the the Sleaford Standard and Mid-Sussex Times, said the underlying earnings before interest, tax, depreciation and amortisation and net debt for the 52 weeks to 2 January were in line with expectations.This was despite a 7% decline in underlying total revenues compared to the prior year, with underlying digital revenues up 12% and print advertising revenues down 12%.The focus on digital has seen monthly unique user numbers to 22.6m in December, up from an average of 16.7m in 2014.In the wake of a major editorial management reshuffle in December, a portfolio review has singled out a number of brands "that are not part of its long-term future, as they fall outside its selected markets, or do not match the audience focus, or do not offer the levels of digital growth sought by the group".The disposal process has begun, a statement from the company said, implying buyers had also been identified."If the disposal process is successful in realising appropriate value for the assets, proceeds will be used to fund on-going investment in preferred markets and to further deleverage the group."The reasons for the disposals are clear, with the group's national print and digital display revenues up 3% year on year driven by a 99% increase in revenue from 1XL, the digital advertising exchange partnership, while local display revenues were down 7%.JPR shares were up 11% to 39.63p with an hour to go before the close on Tuesday.

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(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 tru

3 Feb 2016 08:51

BUZZ-Johnston Press: best day in 3 yrs on pension deficit reduction

** Shares in "The Scotsman" publisher Johnston Press up more than 15 pct pension deficit cut by >50% ** Co undertook pension study to streamline the pension scheme ** Now expects to reduce deficit by c50 mln stg (deficit on Jan 3 2015 was 90 mln stg) ** Liberum says this shrink

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Johnston Press reorganises with central editorial team

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WINNERS & LOSERS SUMMARY: Poundland Discounted As Sales Decline

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BUZZ-Johnston Press: hits life-low as print, publishing revenues drop

** Johnston Press's shares fall as much as 14.4 pct to a life-low of 45.39p as co reports fall in print and publishing revenues, for 17-week period, due to weak advertising markets ** Co says print advertising revenue falls nearly 15 pct and publishing revenue by about 11 pct for the 17 wee

19 Nov 2015 09:26

Johnston Press To Meet Profit Expectations For Full Year

7 Oct 2015 10:43

Johnston Press closes more titles as it looks to cut costs

(ShareCast News) - Media group Johnston Press announced the closure of several print titles as it looks to cut costs and focus on its online expansion. The company said a number of its smaller free print titles have been closed, which will allow it to focus resources on its digital offering in those

7 Oct 2015 07:34

Johnston Press Makes Further Progress On Cost Cuts As Titles Closed

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UPDATE 2-UK's Trinity Mirror in talks to buy rival Local World

(Adds Local World no comment, analyst, background and detail; also updates shares) Sept 14 (Reuters) - Britain's Trinity Mirror Plc, publisher of the Daily Mirror and Sunday Mirror newspapers, is in talks to buy rival Local World Holdings Ltd as it attempts to build scale to help counteract

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