The Johnston Press media group has sold its fourteen regional newspaper titles to Iconic Newspapers Limited, a company run by British advertising executive Malcolm Denmark.

Irish and British regional newspaper publisher Johnston Press Plc said profit for the 26 weeks ending June fell as revenue from print advertising continued to decline, with classified print advertising accounting for majority of the fall.

Advertising revenue at Johnston Press’ Irish operations fell by just over 19% last year, to £8.9m (€11m).

The BBC today announced plans to save £6m (€8.7m) by scrapping some of its websites.