Johnston Press PLC Regulatory News (JPR)

19 Jan 2007 09:32

Johnston Press PLC19 January 2007 For Immediate Release 19 January 2007 Johnston Press plc ACQUISITION OF ARCHANT'S NEWSPAPER OPERATIONS IN SCOTLAND Johnston Press plc, one of the leading regional media groups in the UK andIreland, announces that it has conditionally acquired the assets and titles ofthe Scottish Newspaper operations of Archant for a cash consideration of £11.205million funded from existing bank facilities. The business comprises eightweekly titles of which three are paid-for newspapers circulating in the NorthEast of Scotland around Peterhead and Fraserburgh and five are on freedistribution in central Scotland around Glasgow, Ayrshire, Lanarkshire andPaisley. In the year ended 31 December 2006, the business generated revenues of £6.95million. The acquisition is conditional on clearance from the Regulatory Authorities andon completion would become part of the Johnston Newspapers (Scotland) Division.Consultation with affected employees regarding the proposed transfer under TUPEwill commence shortly. Commenting on the announcement, Tim Bowdler, Chief Executive of Johnston Presssaid: "We are delighted to have been able to reach agreement with Archant toacquire these titles. This is an attractive portfolio of weekly newspapers whichfits well with our existing titles in their respective areas. We look forward toworking with the Scottish Archant publishing team to build on an alreadysuccessful business for the benefit of readers and advertisers in the localcommunities they serve." Contact: Tim Bowdler, Chief Executive 0131 225 3361 or Richard Oldworth/Suzanne BrocksBuchanan Communications 020 7466 5000 This information is provided by RNS The company news service from the London Stock Exchange