Johnston Press in talks to buy i newspaper

Johnston Press is in “late stage” talks with ESI Media to buy the i newspaper for an estimated £24 million.

ESI Media’s group CEO, Steve Auckland, confirmed on Thursday (11 February) that discussions with the regional publisher are taking place; however, Auckland said that no decision has yet been made.

“I can confirm that we are in discussion with Johnston Press regarding the sale of i newspaper,” Auckland said.

“At this stage no decision has been made and we realise the uncertainty that this news will cause our employees and customers. Johnston Press are bound by strict PLC guidelines so unfortunately we can make no further comment at this time.

“ESI Media remains committed to our brands, building on our fast growing global footprint, whilst cementing our place as the most important destination for audiences in the capital.”

In another statement, Johnston Press said if the deal went ahead it would provide greater reach, scale and help to grow revenues.

Johnston Press currently publishes more than 200 regional titles, including The Scotsman, the Yorkshire Post and the Falkirk Herald.

Launched in 2010, the i currently sells around 270,000 copies a day – significantly more than the 56,000 that the Independent manages to flog.