Highfield says of the £24.4m acquisition of the i newspaper from Evgeny Lebedev. He intends to build the brand’s digital presence, increase the distribution of the print edition, targeting small- and medium-sized retailers like post offices and newsagents, and expand to all areas of the UK, including Northern Ireland, where the paper is not currently sold. He will improve editorial by taking 17 existing members of staff and hiring others to form a team of 50. The paper will also draw content from Lebedev’s The Independent’s website and the Evening Standard for £850,000 a year, as well as from Johnston Group’s regional papers. Highfield says that the purchase is about building scale for Johnston Press and attracting bigger advertising. He says scaling by acquiring small regional media groups would have taken a long time and been very expensive.
We are in one quarter of the country and we want to be in all of it, not least because this is a scale game and we wanted to go after more national advertising revenue and have a bigger train set across which to offer our digital services. I’ve always had a fundamental belief that video didn’t kill the radio star. New technology comes along, but it rarely wipes out what came before it. I think people will still want print for many years to come.