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News International Agreement

28th Mar 2013 12:30

RNS Number : 1382B
Johnston Press PLC
28 March 2013
 



For immediate release

28 March 2013

 

 

JOHNSTON PRESS

AGREEMENT TO TERMINATE NEWS INTERNATIONAL PRINT CONTRACT

 

 

Johnston Press plc ("Johnston" or "the Company"), one of the leading multi-platform community media groups in the UK and Ireland, announces that it has reached agreement with News International ("NI") in exchange for a payment to Johnston of £10m to terminate NI's printing contract at Johnston's Dinnington (near Sheffield) facilities. The Company and NI intend to enter into arrangements in due course relating to provision of printing by NI to the Company.

 

There is no planned headcount reduction as a result of this agreement and Johnston will explore new contract printing opportunities with immediate effect in order to maximise returns from the premium quality capacity at Dinnington.

 

The proceeds will be applied in further reducing Johnston's net debt and interest cost.

 

For further information please contact:

 

Buchanan

Sophie McNulty/Louise Hadcocks

0207 466 5000

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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