Ex-Mirror boss Montgomery buys Scotsman in cut-price deal
New owner for The Scotsman newspaper
Former News of the World editor and Daily Mirror executive David Montgomery has acquired The Scotsman and dozens of other regional and local papers in a cut-price £10.2 million deal.
Mr Montgomery’s National World takeover vehicle is buying the titles from a group of New York hedge funds who have owned them since 2018.
He has appointed former Daily Record executive and PR company owner Mark Hollinshead as chief commercial officer. Danny Cammiade, who was chief operating officer with former owner Johnston Press and more recently worked as chief executive at Tindle Newspapers, will be appointed as a non-executive director.
JPI Media put itself up for sale at the beginning of the year and has struggled to find a buyer. Record owner Reach, The Herald and DC Thomson all expressed interest.
National World said it expects the takeover of JPI, which also publishes The Yorkshire Post, Falkirk Herald, Fife Free Press, Sheffield Star, Sunderland Echo and Portsmouth News, to complete on 2 January.