Rothschilds advise Buteman’s owner, Johnston Press, on refinancing in 2014

The Johnston Press, owner of The Scotsman, Scotland on Sunday, the Yorkshire Post and Argyll local paper, The Buteman, had earlier this year warned that that it position as a going concern was under threat.

However, it has now announced that, advised by Rothschilds, it has negotiated a refinancing deal with its lenders that it will put into action in 2014 and that will run to the maturing of its debt facilities in September 2015.

With determined serial cost cutting, seeing slimmer papers and fewer journalists, Johnston took £56 million off its debt burden, in the 12 months to June 2013, then at £306 million.

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7 Responses to Rothschilds advise Buteman’s owner, Johnston Press, on refinancing in 2014

  1. So all these bankrupt news outlets will be kept afloat, I don’t think we need to ask why or if we can expect any truthful even handed reporting, especially on Scottish matters.

    Anyone who does not know the history of the Rothschilds and how they acquired their wealth in Britain would be wise to do some research before believing one word out of any paper that they advise.

    Like or Dislike: Thumb up 9 Thumb down 4

  2. After 42 years of buying the Scotsman every day I stopped earlier this year.

    Only in Scotland would it happen that it’s self styled national newspaper bites the dust as the country regains its independence.

    Even the Irish Times, an apologist and standard bearer for the Anglo Irish Establishment saw sense in time.

    Like or Dislike: Thumb up 7 Thumb down 5

  3. I thought that all printed news … except of course the gossip-and-slander sheets … had a serious problem with falling circulation due to the growth of other media, not just those papers which back one side or another.

    Like or Dislike: Thumb up 1 Thumb down 1

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