Johnston Press plc, one of the UK’s leading regional newspaper publishers, announces the sale of the Galloway Gazette Ltd and the Stornoway Gazette Ltd to Scottish Radio Holdings plc (SRH).
Johnston Press acquired these businesses as part of its acquisition of Regional Independent Media Ltd (RIM) in April this year.
The Galloway Gazette Ltd comprises two paid for weeklies, the Galloway Gazette and the Carrick Gazette.
The Stornoway Gazette Ltd comprises the paid for weekly, the Stornoway Gazette & West Coast Advertiser.
As at 31st December 2001, the combined net assets of the businesses were £1.2 million.
Johnston Press also announces that in a separate transaction, it has sold the Wee County News, a paid for weekly based in Alloa, to the title’s management. This newspaper was also acquired as part of the RIM acquisition.