On Air: STRAY FM

Savage Garden: To the Moon & BackiTunesAmazon

Savage Garden: To the Moon & BackiTunesAmazon

Harrogate Advertiser publisher Johnston Press up for sale

harrogate advertiser

Published by The Stray FM News Team at 9:25am 11th October 2018. (Updated at 9:54am 11th October 2018)

The owner of the Yorkshire Post and Harrogate Advertiser has put itself up for sale.

Johnston Press which also owns the Knaresborough Post and Scarborough News has struggled with revenues in recent times.

The company, which like many rivals has struggled financially amid declining print readerships and ad revenues, took the decision after a strategic review of its business which began last year.

The review took place ahead of a looming deadline for the repayment of £220m in loans.

It said on Thursday that a sale was the only option.

The company's statement read:

"Since commencing the strategic review of financing options first announced in March 2017, the company has focused on exploring all options available to it in relation to its £220m outstanding 8.625% senior secured notes due for repayment on 1 June 2019.

"Pursuant to this strategic review and in order to assess all strategic options to maximise value to its stakeholders, the board of Johnston Press announces today that it has decided to seek offers for the company."

It added that there could be no certainty an offer would be made and it reserved the right to terminate the sale process at any time.

The company, which has about 200 titles, had hoped that a decision to buy the i national daily in 2016 would help revive its financial fortunes but it had remained loss-making to the extent it had been considering offloading other major titles, including The Scotsman, to raise cash.

It had blamed falling revenues more recently on changes to Google and Facebook algorithms which had hurt online exposure.

Bidders for the business could include activist shareholder Custos Group, which already owns more than 20% of the business and had said it would be a prospective bidder if the company collapsed.

 

Email Icon

Sign up for exclusive news, competitions and offers.
Proper Local News updates from Stray FM

Newer article
Top articles

Harrogate budget: Six talking points from 2019/2020 financial plan

Harrogate, Craven & Wharfedale: Could life guards be replaced by cameras? It's just one of the discussions from last week's budget.

Brit Awards 2019: The 1975 win best British album and best group

National: The 1975 have been crowned the big winners at the Brit Awards, picking up the night’s top prizes for best British album and group — and addressing male misogyny in the industry as they did it.

Samsung unveils foldable phone and 5G version of Galaxy

World: Samsung has unveiled its first foldable smartphone - the first device of its kind from a major phone maker.

NBA stretch run: Bold predictions for the remainder of the regular season

Sport: How will the remainder of the NBA regular season unfold? Read our bold predictions then have your say on the storylines raised by voting on each topic.

Brit Awards 2019: The 1975 win best British album and best group

Showbiz: The 1975 have been crowned the big winners at the Brit Awards, picking up the night’s top prizes for best British album and group — and addressing male misogyny in the industry as they did it.

EXCLUSIVE: Emmerdale producer feels amazing to win NTA for third year running

Harrogate, Craven & Wharfedale: The Yorkshire Soap was voted Best Serial Drama at the glittering National Television Awards last night.

WATCH: 43 Minutes of Queen in the 70s

70s: The band's team have put together highlights of the their early career including some iconic performances.

Behind The Scenes: Policing rural North Yorkshire

Harrogate, Craven & Wharfedale: Stray FM went out on a shift with Craven's Neighbourhood Policing Team.

Can owning a pet make you live longer?

Family: Pet owners are reaping the benefits.

Popular car showroom re-locates to Thorp Arch

Business: Buying and selling new and used cars.

Top Party Dresses for the Festive Season

Christmas: Local Blogger, the Harrogate Girl, picks the best frocks, gowns and outfits for the big Christmas parties of 2017.

"This will make my kids' Christmas"

Harrogate, Craven & Wharfedale: Stray FM and Slingsby Gin offer a little light to a family who've had a tough year just before Christmas

Delve into deliciousness at Mother Shiptons Inn

Test pages: We sent Stray FM's James Stanley to try out the new menu at Mother Shipton's Inn Knaresborough.

A59 CLOSED in both directions at Upper Poppleton

Harrogate, Craven & Wharfedale: It's after an accident - emergency services are on scene

LIVE: Stage 4 of the Tour de Yorkshire

Harrogate, Craven & Wharfedale: The Final stage of the Tour de Yorkshire is on today today, passing through Otley, Blubberhouses, Pateley Bridge and Skipton.

Tour de Yorkshire host venues confirmed

Harrogate, Craven & Wharfedale: There'll be no re-run of this year's memorable Tour de France stage finish in Harrogate.

North Yorkshire districts among best places to live in UK

Harrogate, Craven & Wharfedale: Three parts of North Yorkshire have been named in the top ten places to live in the UK.

Poll

Have you kept up your New Year Resolution

Trending in Yorkshire

Harrogate budget: Six talking points from 2019/2020 financial plan

Could life guards be replaced by cameras? It's just one of the discussions from last week's budget.

A59 CLOSED in both directions at Upper Poppleton

It's after an accident - emergency services are on scene

Health watchdog accuses NHS of misleading council over loss of mental health beds in Harrogate

Councillors fear patients in North Yorkshire may have to travel to the Tees Valley for treatment

Cuts to Pupils Referral Units APPROVED

It means schools such asThe Grove Academy in Harrogate face an uncertain future.

Man arrested in connection with Harrogate robbery

It follows an incident on Sunday.

More news...