Paper forfeits lease
The Times relocating Edinburgh-based staff
News Scotland has decided not to take up a new lease on its offices in Jackson’s Entry, Holyrood and will move all staff to its base in Queen Street, Glasgow.
A spokesperson for News Scotland said: “The lease on the Edinburgh office had come to an end, and it makes financial and practical sense not to renew it.
“We will continue to invest in all of our Scottish titles, including in front line journalism.”
It is understood 12 Edinburgh-based staff were informed of the change last month. News Scotland is expected to retain a staff presence in the capital at the Scottish Parliament.
The Times Scotland had a circulation in October of 29,012, up 11.95% year on year, and ahead of The Scotsman which it has been aggressively targeting.
It has beefed up its editorial payroll and made a push into focused interest areas, both in-paper and through public events. The closure of the Edinburgh office will not lead to any job losses.
Johnston Press hails success of ‘i’ newspaper
Johnston Press has reported a positive trading performance from the ‘i’ newspaper, with EBITDA in each of the last three months averaging £1 million per month for the first time since acquisition.
The title’s market share of main news advertisers has grown from 20% to 22% over 11 calendar months to November. Total print and digital advertising revenue has grown 17%.
Since acquiring the the newspaper for £24m in April last year, the Monday to Friday cover price has risen from 40p to 60p, with iweekend now at 80p.
Circulation has remained steady at 266,000, verified by the Audit Bureau of Circulation Data. The i newspaper’s market share among the quality newspapers has increased from 17.5% at acquisition to 20%.
Annual EBITDA pre-purchase was £5.2m on revenues of £26.1m for the year ended 27 September 2015.
Over the last nineteen months, there has been a significant investment in the editorial team, with further roles planned for early next year. About 85% of its circulation is outside London.
Johnston Press, which also owns The Scotsman, says the Group, as a whole, continues to make good progress with its strategic initiatives and, while trading conditions remain very challenging, the board remains confident that trading for the full year will be in line with its expectations.