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 and adjoining markets where the growth potential of digital is stronger.Johnston said eight small free print titles in the Midlands have been closed, while three small titles in the North Western and Southern regions have been integrated into paid titles.The company has also renegotiated a number of key contracts, including the outsourcing of its in-house advertising creation team and its advertising production and software development contract."These initiatives are part of the group's existing cost reduction programme and will deliver part year benefit in the last quarter of 2015, with full year benefits in 2016, as previously planned," it said.In addition, Johnston said it launched its new responsive website, Scotsman.com, last week.The company said it will provide an update on current trading and further details on its portfolio consolidation and cost reduction programme in November.At 1050 BST, Johnston Press shares were up 1.7% at 76.00p.