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Johnston Press looking to buy
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JOHNSTON Press said yesterday that it has stepped up its hunt for
newspaper acquisitions, although reports of an advertising slowdown
cast a shadow over a robust 2004.
The Edinburgh media firm - which jumped into the FTSE 250 when it
bought Regional Independent Media (RIM) three years ago - argued that
a 25 per cent cut in debt to GBP 328 million would provide headroom
for a fresh purchase.
Chief executive Tim Bowdler warned that "timing is everything",
but added: "We are very keen to make more acquisitions. We see
consolidation in this market and we want to play an active part of
it."
The ...
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