Consortium could buy the Scotsman

A consortium of Scottish businessmen is trying to buy The Scotsman, according to a report in the Sunday Times.

Aberdeen Asset Management’s chief executive Martin Gilbert is partnering with Edinburgh financier Ben Thomson and property developer Mark Shaw to purchase the daily title from regional publisher Johnston Press.

The report says that talks have been taking place for weeks, with Johnston wanting about £40 million for the paper, which it bought in 2005 for £160 million.

However, Johnston Press this morning issued a denial, saying that it “can confirm that the board does not have any disposal process underway in this regard”.

The Sunday Times story also claims that the consortium is in discussions with Newsquest, publisher of the rival paper the Herald, about a joint venture to pool resources.

In May, Johnston Press decided not to go ahead with the sale of its papers in the Republic of Ireland as it was unable to secure a “sufficiently high price”.