Dec 31, 2020
Scotsman owner JPI Media sold to National World for £10.2m
Regional newspaper publisher JPI Media has been bought for £10.2m by National World, a media takeover vehicle led by industry veteran David Montgomery. In 2005, The Scotsman newspaper and other titles, including the Edinburgh Evening News and Scotland on Sunday, were bought by Johnston Press in a deal worth £160m. In a statement, National World said the JPI acquisition would provide a platform for it to "Implement its strategy of creating a sustainable local online news publishing model". Mr Montgomery, a former chief executive of the Mirror Group and News of the World editor, has targeted a deal for JPI since National World was launched with a stock market float last year. "Mr Montgomery, who chairs National World, said:"JPI's historic publishing brands represent the best in journalism and have reliably served their communities and supported local businesses, in some cases for centuries, and never more than in the last year. National World states on its website that its objective is "To create a modern platform for news publishing by implementing a new operating model, powered by the latest technology".
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