Area Directors To Run UPN In Lieu Of Chief Executive

Following the sale of United Provincial Newspapers (UPN) to venture capitalist group Candover (subscribers see United Sells Northern Newspapers), the Northern newspaper group will continue to be run by UPN area directors.

Steve Kendall, area director Northwest, and Steve Auckland, area director Yorkshire, will take care of day-to-day business until a chief executive for UPN is appointed.

Candover says that it is happy with the business and intends to keep it for at least five years, after which UPN will become listed on the stock market.

Supporting Candover in the £360 million deal with United News & Media are Goldman Sachs and Alpinvest which both provided substantial amounts of backing capital. Colin Buffin, funding manager for Candover, will sit on the board of directors at UPN.

Candover c/o Focus Communications: 0171 600 1392