Media News - Tuesday, August 25, 2009
Consortium tables bid for The Scotsman, claims report
A consortium of Scottish businessmen is trying to buyer the Scotsman newspaper, according to weekend reports. Martin Gilbert, chief executive of Aberdeen Asset Management and chairman of FirstGroup, property developer Mark Shaw and Ben Thomson, the leader of investment bankers Noble Group, are said to have made an informal approach to Johnston Press over its flagship title. A report in the Sunday Times claimed several high-profile businessmen have been approached to join the consortium, which has the blessing of Alex Salmond, Scotland's First Minister. The two sides were reported to be "a long way apart on price" with Johnston Press said to be seeking about £40m (45m euro) for the paper and its stablemates, Scotland on Sunday and the Edinburgh Evening News. In 2005, Johnston paid £160m (183m euro) to the Barclay brothers for the three titles. Johnston Press moved quickly yesterday to deny that it planned to sell some of its titles. In addition to sale claims, the Sunday Times article also said the consortium was in talks with Newsquest’s Glasgow-based Herald Group about a joint venture to pool resources. Previous attempts to merge the titles were blocked by politicians. (UK Press Gazette)
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