Regional newspaper publisher, Johnston Press, has sold the Galloway Gazette and the Stornoway Gazette businesses to Scottish Radio Holdings (SRH) for an undisclosed sum, the group announced this morning.
Johnston acquired the businesses as part of its acquisition of Regional Independent Media (RIM) earlier this year (see
Johnston Press Acquires RIM Newspaper Business). The Galloway Gazette comprises two paid for weeklies, the
Galloway Gazette and the
Carrick Gazette. The Stornoway Gazette comprises the paid for weekly, the
Stornoway Gazette & West Coast Advertiser.
As at 31 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.
