Takeover of local paper publisher
Romanes news titles join Herald group
Romanes, whose titles include the Clydebank Post and Greenock Telegraph, employs 300 people in Central Scotland, South East England and Co Fermanagh in Northern Ireland.
It publishes 32 titles which include 21 paid-for and one daily with a combined readership of about 900,000 per week of which 60% is in Scotland.
The group was created in 2012 from the administration of Dunfermline Press, which originated in 1859, and was named after former owner Deirdre Romanes who died in 2010. A year later Lloyds Bank sold its majority stake to US investment bank Goldman Sachs and private equity firm Texas Pacific Group.
Other titles in the group include the East Lothian Courier, Ardrossan and Saltcoats Herald, and Helensburgh Advertiser, as well as 30 websites.
Henry Faure Walker, chief executive of Newsquest said: “Newsquest is focused on building one of the leading local multi-media publishing businesses in the UK, and I am delighted to welcome Romanes Media Group to the company.
“We operate in separate markets but this portfolio of good quality weekly titles provides a strong fit with plenty of opportunity.”