Another indication of the falling market for regional newspapers as Johnston Press one of the success stories in the sector announces its intention to raise capital through a rights issue.
In its statement to its shareholders the board cite the reasons as being
1.the Company's trading performance has been adversely affected by decreasing advertising revenues and the Directors believe this challenging environment will continue in the near term.
2.The above factors have impacted on the Group's leverage and the Board's views on the Group's future funding needs. Whilst the business remains cash generative, current credit market conditions suggest a recapitalisation is a prudent measure
The measure are planned to bring in an additional £250m
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1 comment:
They should sack the board, they should have seen the market going down last winter !!!!
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