JPI Media secures bids from Archant and media veteran Montgomery

first_img Also Read: JPI Media secures bids from Archant and media veteran Montgomery Show Comments ▼ Share whatsapp Reach, formerly known as Trinity Mirror, previously expressed interest in the regional titles, but pulled out of the race last year. The process was put on hold following the outbreak of coronavirus, but the company last month said it was resuming the sales process. Montgomery, who also led Mirror Group, has teamed up with turnaround investor Endless for his bid, which was first reported by Sky News. JPI, which is owned by a consortium of hedge funds including Goldentree Assset Management, was formed to buy Johnston Press out of administration in 2018. whatsapp Local newspaper group JPI Media is said to have received takeover offers from rival publisher Archant and veteran media executive David Montgomery. Its owners wrote off £135m of debt and injected £35m of new capital in the business. JPI Media secures bids from Archant and media veteran Montgomery James Warrington Also Read: JPI Media secures bids from Archant and media veteran Montgomery center_img Archant, which publishes the Eastern Daily Press, and former News of the World editor Montgomery have tabled rivals bids ahead of a deadline this week. Norwich-based Archant has been tipped as a logical suitor for JPI’s regional titles given the potential cost-savings created by a merger. Thursday 8 October 2020 1:25 pm JPI Media declined to comment. But Montgomery has also been gearing up for media takeovers after setting up a listed vehicle called National World. Last month the company said it was cutting up to 30 print roles amid an ongoing shift to its digital offering. Last year it sold the i newspaper to Mail owner Daily Mail and General Trust in a £50m deal. Like many publishers, JPI has been battling a sharp downturn in advertising revenue since the start of the pandemic. JPI, which owns titles including The Scotsman and The Yorkshire Post, originally put its regional papers up for sale last year. The sale process opens up the prospect of further consolidation in the media industry as a steady decline in advertising revenue for publishers has been compounded by the impact of the Covid-19 crisis. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgWhy people are finding dryer sheets in their mailboxesnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img

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