Johnston Press has successfully completed the acquisition of Archant’s Scottish newspaper division for £11.2 million.
The purchase was subject to regulatory clearance from the Office of Fair Trading and Johnston Press said today that all the necessary conditions have been satisfied.
The purchase was first announced in January, with Tom Bowdler, CEO of Johnston Press, saying that Archant’s Scottish titles would fit well with the company’s existing portfolio (see Johnston Press Acquires Archant Scottish Titles).
In March, Johnston Press announced that its 2006 pre-tax profits were down 6% to £146.7 million, adding that its revenues this year would be similar to those recorded for 2006 (see Johnston Press Sees Profits Fall).
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