Johnston Press confirms intention to buy award-winning national newspaper i
Johnston Press, which owns this title, has today confirmed its intention to buy award-winning national newspaper i.
The deal - with Independent Print Limited - will position Johnston Press as the UK’s fourth largest print publisher, selling more than 600,000 copies of its titles a day.
Johnston Press - which owns more than 200 local and regional newspapers and websites - plans to launch a website and app for i once the deal, worth £24m, is finalised in around eight weeks.
“i is a highly regarded, award-winning national title which has established a unique market position by combining high-quality journalism with a concise, popular format,” said Johnston Press Chief Executive Office Ashley Highfield.
“Having i – the industry’s Newspaper of the Year 2015 - in our family of titles will enable us to offer advertisers national advertising opportunities across the whole country.”
The proposed acquisition was announced to the London Stock Exchange this morning and welcomed by i Editor Oliver Duff, who will stay on in his role following completion of the deal.
“Since launching five years ago, i has been an insurgent force in the national quality newspaper market, defying sceptics and overtaking established rivals through innovation and bold, independent journalism.
“Ownership by Johnston Press will propel i into the next exciting chapter in its short history. JP’s heritage, national network of journalists, retail clout and commitment to digital development mean the group is ideally placed to continue i’s circulation and revenue growth.
“i is already a punchy, trusted digest that cuts through the noise of daily life. Our readers around the UK subscribe to its ethos of brevity, quality and impartiality. Yet many more people are short on time and hungry for knowledge. With JP’s help, we can reach this untapped audience – and build on a British media success story.”
Neither retailers nor subscribers will be affected by the proposed acquisition.