Johnston Press: News Letter owner bought over by new company

BBC news

Front covers of various incarnations of the Belfast News Letter

The media group which owns the oldest English language daily newspaper in the world has been bought out hours after filing for administration.

A newly formed company, JPIMedia, has bought Johnston Press, which publishes the News Letter and several weekly papers in Northern Ireland.

JPIMedia has said the move ensures staff will keep their jobs.

The newspaper group put itself up for sale last month, but said none of the offers it received were strong enough.

It filed for administration on Saturday morning as part of a rescue plan aimed at ensuring its survival.

David King, the new chief executive of JPIMedia, said the sale ensures "that operations can continue as normal, with employees' rights maintained, suppliers paid, and newspapers printed".

Prior to the sale, The News Letter's deputy editor Ben Lowry wrote on Twitter that the paper was in good health and profitable, adding that it will be the world's oldest daily "for while yet".

However, Ciarán Ó Maoláin, secretary of the Belfast branch of the National Union Of Journalists (NUJ), said the news that the company was entering administration was worrying.

"We're seriously concerned about those of our colleagues who work on the News Letter which is the oldest English language newspaper, continuously published newspaper in the world and those in the Derry Journal and the many local titles that Johnston Press has in Northern Ireland," he said.

"Many of our members work there and our thoughts are with them at this time."

rabbi