Johnston Press PLC Completion of the acquisition of i (7155U)

TIDMJPR

RNS Number : 7155U

Johnston Press PLC

11 April 2016

Johnston Press plc

Completion of the acquisition of the business and certain assets of i

Johnston Press plc ("Johnston Press") is pleased to announce that it has completed the acquisition of the business and certain assets of i from Independent Print Limited (the "Acquisition").

The Acquisition was originally announced on 12 February 2016.

Ashley Highfield, Chief Executive of Johnston Press said,

"This is a transformational acquisition for Johnston Press and an important step towards delivering our long-term strategy. i is a highly regarded newspaper with a clear market position and a loyal readership. By joining with Johnston Press the combined circulation will be equal to 9% of national daily circulation, making us the fourth largest player in the market. This enhanced reach represents a significant growth opportunity for Johnston Press in terms of national print and advertising revenue. It also rebalances our revenues towards less volatile circulation revenues.

With our considerable digital experience the combination of Johnston Press and i will also allow us to grow digital audiences and revenues through the creation of inews.co.uk.

We have a great new team in place at i under the editorial leadership of Oly Duff and look forward to working with them as we deliver the next phase of Johnston Press' strategy."

For further information please contact:

 
 Johnston Press 
 Ashley Highfield, Chief Executive 
  Officer                                  020 7612 2601 
 David King, Chief Financial Officer       020 7612 2602 
 
 Bell Pottinger 
 Dan de Belder                             020 3772 2561 
 
 Panmure Gordon (Sponsor and Joint 
  Broker) 
 Dominic Morley / Andrew Potts 
  / Alina Vaskina (Corporate Finance) 
  Charles Leigh-Pemberton (Corporate 
  Broking)                                 020 7886 2500 
 
 Liberum (Joint Broker) 
 Neil Patel                                020 3100 2000 
 
 Ingenious Corporate Finance (Financial 
  Adviser) 
 Toby Ramsden                              020 7319 4159 
 Graham Smith                              020 7319 4162

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 11, 2016 02:00 ET (06:00 GMT)

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