Johnston Press sale at knockdown price

JOHNSTON Press newspapers in the Irish Republic is on the market at a knockdown price, maybe as low as €50 million, according to industry insiders.

Troubled British media giant Johnston Press has spent hundreds of millions acquiring these titles but has come under severe pressure during the downturn, which has seen it impose redundancies and rationalisation at its British-based titles.

The company, which owns key regional titles, including the Limerick Leader, Kilkenny People and Leinster Leader, spent €138m in 2005 acquiring the Leinster Leader Group, which also included the Limerick Leader.