Johnston Press has announced the acquisition of two regional newspaper businesses in Northern Ireland, adding Local Press Limited and Leinster Leader Limited to its publishing portfolio.
The two companies bring a combined total of 18 publications into the fold, with Local Press bought for £65 million and Leinster Leader for £138.6 million.
In a statement to the city, Johnston said: “Johnston Press believes that The Leinster Leader represents an attractive and complementary addition to its recently acquired portfolio of titles in the Republic of Ireland.”
The move comes just 3 months after the publisher acquired Score Press from Emap for £155 million, gaining 45 local weekly newspapers in Scotland, Northern and the Republic of Ireland (see Johnston Continues To Warn Of Difficult Ad Market).
In its recent trading statement, Johnston revealed that revenue for the six months to June 2005 reached £264.6 million, up from £261.5 million this time last year. Pre-tax profits for the period rose by 9.3% to £82.2 million.
The group remains optimistic about the last six months of 2005, saying that it expects “satisfactory” results, buoyed by “tight” cost management and a contribution from Score Press.
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