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EDINBURGH, Scotland, Dec 19, 2005 (UPI via COMTEX) -- British publisher Johnston Press, the nation's fourth largest newspaper publisher, paid $283 million to buy the 188-year-old Scotsman newspaper group.
The newspaper group, sold by the Barclay brothers, includes the Edinburgh Evening News and the Edinburgh Herald & Post series of free weekly newspapers, the Guardian reported Monday.
The purchase of the Scotsman group, which has a total weekly paid for circulation of 840,000 and a weekly free distribution of 254,000, continues Johnston's recent acquisition spree. So far this year it has spent $885 million buying assets.
The Barclay's will use proceeds of the sale to focus attention on their recently acquired Telegraph newspaper, which they bought from Chicago-based Hollinger International Inc.
URL: www.upi.com Copyright 2005 by United Press International
