Johnston Press announces it is selling the Isle of Man Examiner, Isle of Man Courier, Manx Independent and www.iomtoday.co.im. to Tindle Newspapers for £4.25m. Johnston Press CEO Highfield:
This disposal is further progress in executing our divestment strategy and allows the group to realise immediate value from our Isle of Man assets. I would like to thank the staff of our Isle of Man business for their loyalty and dedication over the years and we wish them well for a successful future.
Buying a profitable local weekly set-up such as the Isle of Man trio is certainly a departure from our early days when, without much cash, we mostly bought papers that were in trouble, or we had to launch them ourselves. We are most grateful to Ashley Highfield and his colleagues for all their assistance in bringing about this agreement…Everyone at Tindle Newspapers, will make [the staff] all very welcome just as soon as we are able to do so.