LONDON (SHARECAST) - Johnston Press is to buy the Scotsman newspaper and several other Scottish titles from the Barclay Brothers for £160m.
The deal also includes Scotland on Sunday, the Edinburgh Evening News and the free Edinburgh Herald & Post.
Johnston Press will pay the consideration out of its own funds and the deal will be earnings enhancing within the first year, ignoring one-offs.
Scotsman Publications is owned by Press Holdings, the Barclay Brothers newspaper holding company. Johnston Press will acquire the entire issued share capital of Scotsman Publications.
SP has a total weekly paid for circulation of 840,000 and a weekly free distribution of 254,000. Website Scotsman.com has over 3m monthly users.
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