Johnston Press makes extensive evaluations of Irish branch
Posted by Simon Day on June 5, 2009 at 11:31 AM
Johnston Press will evaluate "everything" at its Irish-based newspapers and printing operations but is yet to make a formal decision on any cutbacks, the company's Irish head said on Thursday, The Irish Independent reported Friday.
The UK incorporated Johnston is reviewing the operations of its Irish branch as it attempts to cut a further £30 million to offset the ongoing declines in advertising revenue.
The UK incorporated Johnston is reviewing the operations of its Irish branch as it attempts to cut a further £30 million to offset the ongoing declines in advertising revenue.
The media group originally planned to sell its 15 Irish newspapers and two printing presses, but the near finalised deals fell through in May. Since the failed sale, cost cutting measures at the Irish operation seem inevitable. The most obvious measure is the shuttering of either the Limerick or the Kilkenny printing press, according to the Independent.
"We're reviewing everything, but no decisions have been made yet," Johnston's Irish boss Barry Brennan said yesterday.
The publisher had wanted around €70 million for the sale of its Irish papers and presses that cost upwards of €200 million to put together, the Independent reported.
"We're reviewing everything, but no decisions have been made yet," Johnston's Irish boss Barry Brennan said yesterday.
The publisher had wanted around €70 million for the sale of its Irish papers and presses that cost upwards of €200 million to put together, the Independent reported.
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