Johnston Press Shares Crisis

All of Scottish, and indeed, UK journalism should be worried about Johnston Press.

Trading on Friday saw its shares finish at just 12.75p from a 52 week high of 300p.

Companies such as Investec Securities are now repeatedly telling people to "sell" on the back of both a poor forecast from JP itself, and the fact other groups, notably Daily Mail and General Trust, are looking like better and safer bets.

Not only is DM&GT expected to follow the likes of Trinity Mirror and begin cutting staff across its national editorial teams, it is also still linked with a bid for loss making title The Independent, most likely taking on its debt in exchange for a nominal selling price.

But it is Johnston Press that causes real concern.

Having already gone cap in hand for a financial shot in the arm once this year, how likely is it that JP could do so again, particularly with the banks in such turmoil.

Which throws up a very real threat to the future of The Scotsman titles and all those who work for them.

There may already be a campaign to save HBOS from London rule.

But it seems like it is The Scotsman, itself, that could need saving before too long.


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