Cuts followed acquisition

Newsquest paid £15m for Romanes newspapers

clydebank postNewsquest paid £15.2 million to acquire the Clydebank based Romanes Media Group, according to the company’s accounts.

The owner of the Herald & Times bought the local newspaper chain’s 29 titles in May. It comprised 19 paid-for weekly newspapers, nine free titles and one daily, the Greenock Telegraph.

Also included was the Dunfermline Press, Alloa Advertiser, and Clydebank Post.

According Newsquest’s annual report, in the year to September 2014 Romanes made an operating profit of £2.9m on turnover of £18m.

Since the acquisition, Newsquest has made a number of cutbacks at the titles, including job losses and outsourcing some editorial tasks to other centres.

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